by Calculated Risk on 3/25/2024 10:43:00 AM

Today, in the Calculated Risk Real Estate Newsletter: New Home Sales at 662,000 Annual Rate in February

Brief excerpt:

The Census Bureau reports New Home Sales in February were at a seasonally adjusted annual rate (SAAR) of 662 thousand. The previous three months were revised up slightly.
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The next graph shows new home sales for 2023 and 2024 by month (Seasonally Adjusted Annual Rate). Sales in February 2024 were up 5.9% from February 2023.
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Note that the median and average price are down due to the mix of homes sold, not because of large price declines. Homebuilders are building less expensive homes to keep up volumes.

There is much more in the article.