Brief excerpt:
The Census Bureau reports New Home Sales in February were at a seasonally adjusted annual rate (SAAR) of 662 thousand. The previous three months were revised up slightly.There is much more in the article.
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The next graph shows new home sales for 2023 and 2024 by month (Seasonally Adjusted Annual Rate). Sales in February 2024 were up 5.9% from February 2023.
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Note that the median and average price are down due to the mix of homes sold, not because of large price declines. Homebuilders are building less expensive homes to keep up volumes.
