New Home Sales Rise In February, Commerce Dept. Says

Sales of new single-family homes rose in February, up 4.7 percent from January, announced the Commerce Department today.

The increase is based on sales of an estimated 337,000 homes in February, up from 322,000 in January. But it’s still declined more than 41 percent since February 2008.

• The median sales price of new houses sold in February 2009 was $200,900;
• The average sales price was $251,000;
• The seasonally adjusted estimate of new houses for sale at the end of February was 330,000. This represents a supply of 12.2 months at the current sales rate.

March 25, 2009.