New home sales Orlando FL and in the US sell at highest pace in seven years
When the groundhog came out of his hole this year, he must have decided to buy a new home — sales of new single-family houses jumped to their highest level in seven years in February
New homes sales Orlando FL and in the US sales hit a seasonally adjusted annual rate of 539,000 in February, according to the Census Bureau. That’s up from 500,000 in January, and is nearly 25 percent higher than February 2014’s rate.
The median sales price for new houses was $275,500 this February; the average sales price was $341,000.
U.S. new home sales hit seven-year high in February
(Reuters) – New U.S. single-family home sales surged in February to their highest level in seven years despite harsh winter weather, in a hopeful sign for the housing market.
The Commerce Department said on Tuesday sales jumped 7.8 percent to a seasonally adjusted annual rate of 539,000 units, the highest level since February 2008.
January’s sales pace was revised up to 500,000 units from the previously reported 481,000 units.
Economists polled by Reuters had forecast new home sales falling to a 465,000-unit pace last month.
New homes sales Orlando Fl and in the US sales are counted at signing of contracts. February’s gains came despite cold and snowy weather slamming large parts of the country in the last half of February.
Sales last month soared 152.9 percent in the Northeast, but fell 12.9 percent in the Midwest. Sales in the South jumped 10.1 They fell 6.0 percent in the West.
With sales surging, the stock of new houses available on the market fell 1.4 percent last month to 210,000. At February’s sales pace it would take 4.7 months to clear the supply of houses on the market, down from 5.1 in January. (Reporting by Lucia Mutikani; Editing by Andrea Ricci)