US New-Home Sales Eased in February, Suggesting Uneven Recovery
- Contract signings eased 0.3% to an annualized 662,000 units
- Median sales price of a new home dropped 7.6% to $400,500
New homes in Aldie, Virginia, US.
Photographer: Nathan Howard/BloombergThis article is for subscribers only.
New-home sales in the US unexpectedly fell in February for the first time in three months, suggesting an uneven recovery for the housing market.
Purchases of new single-family homes decreased 0.3% to a 662,000 annual pace last month, government data showed Monday. The median forecast of economists in a Bloomberg survey called for a rate of 677,000.