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New Home Sales Soar in Snow-bound Northeast

New home sales rose on a seasonally adjusted annual basis in
February, partially because of a near tripling of sales in the Northeast.  Nationally sales of newly constructed
single-family homes were up 7.8 percent from January to an annual rate of
539,000 units.  January sales were
revised upward from 481,000 units to 500,000. 
February sales were 24.8 percent higher than a year earlier when they
were estimated at 432,000.

On a non-adjusted basis there were an estimated 44,000 new
homes sold during the month compared to 37,000 in January and 35,000 in
February 2014.  The homes sold were
almost evenly divided across completed homes, homes under construction, and
those for which construction had not yet begun.

 

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