Census Bureau: New Home Sales at Highest Rate in Seven Years

26 Mar

The M Report – Samantha Guzman

Sales of new single family homes took an unexpected turn Tuesday, when data released showed the rate rose to the highest it has been in seven years. According to data released by the U.S. Census Bureau and HUD, the February sales are up nearly 25 percent compared to sales from that month last year. Sales for February 2014 were at a seasonally adjusted annual rate of 539,000. This is 7.8 percent above the January rate of 500,000.

The report brings positive news to what some might say has been a lackluster start for housing in the New Year. January marked a slow start for housing recovery, with single-family housing starts falling 6.7 percent month-over-month. Overall, January’s new construction rate was down 2 percent from the month before. And in February, privately-owned housing starts dropped to the lowest rate seen in years. Housing starts for February dropped 17 percent to a seasonally adjusted annual rate of 897,000.

>> Read More: http://themreport.com/news/data/03-24-2015/new-home-sales-jump-25-percent-from-2014

Visit my website at: www.juliecnichols.com

Advertisements

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: