New Single-Family Home Sales Soar Year-Over-Year in February

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development are reporting that according to their estimates the sales of new single-family houses in February 2020 were at a seasonally adjusted annual rate of 765,000. This is 4.4% below the revised January rate of 800,000, but is 14.3% above the February 2019 estimate of 669,000. The seasonally-adjusted estimate of new houses for sale at the end of February was 319,000. This represents a supply of 5.0 months at the current sales rate.