New Home Sales: February 2016

Includes: ITB, IYR, PKB, XHB
by: Sold At The Top

Today, the U.S. Census Department released its monthly New Residential Home Sales Report for February showing sales increased 2.0% from January, but still remained 6.1% below the level seen in February 2015 and near a historically low level with 512K SAAR units.

The monthly supply remained flat at 5.6 months, while the median selling price increased 2.55% and the average selling price declined 1.97% from the year-ago level.

The following chart show the extent of sales decline to-date.

Click to enlarge