New Home Sales Hold Steady in February

New home sales dipped just 0.3% in February to an adjusted rate of 662,000, according to the U.S. Census Bureau.

However, compared with February 2023, new home sales plunged 16.2%.

A “slight uptick” in mortgage rates held new home sales back in February, according to the National Association of Home Builders.

“While new home sales remained flat in February, our latest home builder surveys show increased levels of confidence driven by the ongoing lean levels of existing home inventory,” stated NAHB Chairman Carl Harris. “As interest rates subside over the course of 2024, additional home buyers will be priced into the market and new construction will be needed to meet this demand.”

Regionally, compared with January, new home sales dropped 31.5% in the Northeast and 2.4% in the Midwest, rising 3.7% and 2.3% in the South and West, respectively.

The full new home sales report can be found here.

Page 1 of 798
Next Page
Resource Book
Looking for a specific product or a company? Wood Floor Business has the only comprehensive database of the industry.
Learn More
Resource Book
Podcasts
All Things Wood Floor, created by Wood Floor Business magazine, talks to interesting wood flooring pros to share knowledge, stories and tips on everything to do with wood flooring, from installation, sanding and finishing to business management.
Learn More
Podcasts