February US House Sales Support Consumer Confidence Reports

Contracts for new home sales continued along a positive trend in February and are 12.8% above the February level a year ago

National Association of Home Builders
The seasonally adjusted annual pace for February new single-family home sales was 592,000. This is 6.1% better than January and a 12.8% gain over a year ago.
The seasonally adjusted annual pace for February new single-family home sales was 592,000. This is 6.1% better than January and a 12.8% gain over a year ago.

Contracts for new U.S. home sales expanded by 6.1% in February, according to estimates from HUD and the Census Bureau. Sales growth continues along a positive trend for the market, which is supported by solid job growth, improving household formations, continuing favorable housing affordability conditions, and tight existing home inventory.

The seasonally adjusted annual pace for February new single-family home sales was 592,000. This is 6.1% better than January and a 12.8% gain over a year ago. A mild winter in much of the country likely supported this year-over-year improvement.

(more on February house sales . . . )

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