Sales of newly built, single-family homes from January to February increased 1.8% to a 676,000 seasonally adjusted annual rate, according to data from the U.S. Department of Housing and Urban Development.
The pace of new-home sales in February was up 5.1% compared with February 2024.
“Lower mortgage rates helped to lift demand in February, despite other near-term risks such as tariff issues and affordability concerns,” National Association of Home Builders Chief Economist Robert Dietz said in a statement. “While new home inventory is at an otherwise elevated 8.9 months’ supply, total home supply—new and existing—is a relatively lean 4.2 months' supply for February.”
New single-family home inventory in February rose to a level of 500,000, up 7.5% from February 2024. This represents an 8.9-month supply at the current building pace.
Read the full report here.
