New home sales rose 4.9% in February to a seasonally adjusted annual rate of 636,000, according to the U.S. Census Bureau.
The rate is 0.6% above February 2018 sales.
The median sales price of new homes was $315,300 in February, and the average sales price was $379,600.
Regionally, sales rose 28.3% in the Midwest, 26.9% in the Northeast and 1% in the South. Sales were unchanged in the West during the month.
February ended with a seasonally adjusted inventory of 340,000 new homes for sale, representing a 6.1-month supply at the current sales rate.
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