Steel Markets
March 24, 2016
New Home Sales Up 2% in February
Written by Sandy Williams
Sales of new single-family homes grew 2.0 percent from January to February to a seasonally adjusted annual rate of 512,000, according to the U.S. Commerce Department. The gain was due to increases in the West where sales were up 38.5 percent.
Median national sales price in February was $301,400 and the average sales price $348,900. Inventory of new homes stood at 240,000 at the end of February, a 5.6 month supply at the current sales rate.
