New-home sales roar to a 7-month high 592,000 annual rate in February

• March 23, 2017
• realestate
• Business & Markets, Real Estate Finance

Sales of newly-constructed homes powered to the highest pace in seven months in February as firm demand for housing outweighs lean supply and slightly higher mortgage rates. New home sales ran at a seasonally-adjusted annual rate of 592,000, the Commerce Department said Thursday. That was 6.1% higher than in January and 12.8% above last February’s level