Keeping you up to date on the latest data releases.
- New Home Sales
The pace of new single-family home sales weakened further in February, declining 2.2 percent to a 47-year low of 308,000 annual units. The drop was pervasive in all regions of the U.S. except the West, which saw a 21 percent increase. January’s report was revised upward, from an 11.2 percent drop in sales to a still-weak 8.7 percent drop. Year-over-year growth slipped from −4.3 percent to −13.0 percent in February, and since recent months have seen nearly solid declines, shorter-term growth looks even shabbier, at −24.5 percent for the past six months. The estimate of new single-family homes for sale in February came in at 236,000, representing a 1.3 percent increase over January and 9.2 months− supply at the current sales rate. After peaking last January at a whopping 12.4 months, the months− supply relaxed slowly to 7.3 in October but has been on-the-rise again ever since.