• Prior month 0.657M revised prior to 0.664M
• New Home sales for February 0.676M vs 0.679M estimate
• New home sales Change MoM 1.8% vs -6.9% (revised from -10.5%) last month.

Details:

• Median sale price: $414,500, down -1.5% from Feb 2024 ($420,900)

• Homes for sale at end of February: 0.500 million units (vs Jan 0.496M)
• New home supply: 8.9 months at current pace (vs Jan 9.0 months)

• Regional breakdown:

  • Northeast: -21.4%

  • Midwest: +20.6%

  • South: +6.6%

  • West: -13.6%

Mortgage rates came down in February from above 7% to 6.74%

This article was written by Greg Michalowski at www.forexlive.com.