New home sales fall for third straight month
Pulled down by steep drops in the Midwest and West, sales of new single-family homes fell for the third month in a row, according to today’s report from the U.S. Census Bureau and the Department of Housing and Urban Development.
Sales of new single-family houses in February 2018 were at a seasonally adjusted annual rate of 618,000, a 0.6% drop from the January rate of 622,000. January sales were revised up to 622,000 units from the previously reported 593,000 units.
Sales remain on solid ground through, and the latest figure is 0.5% above the February 2017 estimate of 615,000.
New single-family home sales soared 19.4% in the Northeast and rose 9% in the South. But sales in the West fell 17.6% and dropped 3.7% in the Midwest.
Year-over-year, the median home price rose 9.7% to $326,800 from $298,000 in February 2017. The average home price increased 1.6% to $376,700 from $370,500 on a year-over-year basis.
Sales of new single-family houses in February 2018 were at a seasonally adjusted annual rate of 618,000, a 0.6% drop from the January rate of 622,000. January sales were revised up to 622,000 units from the previously reported 593,000 units.
Sales remain on solid ground through, and the latest figure is 0.5% above the February 2017 estimate of 615,000.
New single-family home sales soared 19.4% in the Northeast and rose 9% in the South. But sales in the West fell 17.6% and dropped 3.7% in the Midwest.
Year-over-year, the median home price rose 9.7% to $326,800 from $298,000 in February 2017. The average home price increased 1.6% to $376,700 from $370,500 on a year-over-year basis.