Steel Markets
March 30, 2019
New Home Sales Rebound in February
Written by Sandy Williams
Sales of new single-family homes were at an 11-month high in February. Sales rose to a seasonally adjusted annual rate of 667,000, a 4.9 percent gain from January and a 0.6 percent increase from February 2018, the Commerce Department said on Friday.
“This is a welcome bounce back for new home sales…and adds another hill onto the roller-coaster few months the new housing market has experienced,” said John Pataky, executive vice president at TIAA Bank, as quoted by the Wall Street Journal.
