February New Home Sales Drop 2% from January
New home sale prices continue to show increases
New home sale prices continue to show increases
Privately owned housing units authorized by building permits in February were 1.9% below the revised January rate.
Rising rates, omicron variant, and the weather cited as curbing sales; downward pressure on rates seen as Russia-Ukraine conflict rages.
Sales jump nearly 12% as housing supply dwindles.
Census Bureau reports Privately owned housing units authorized by building permits were started at a seasonally adjusted annual rate of 1.7 million, a 1.4% increase from the revised November estimate.
Biggest jump since July 2020 in part the result of dramatic downward revision of October 2021 total.
Reports Show Sales Up From June, But Mixed Year-Over-Year