{"id":6669,"date":"2018-03-23T08:30:35","date_gmt":"2018-03-23T15:30:35","guid":{"rendered":"https:\/\/mhpmag.com\/?p=6669"},"modified":"2018-03-23T11:06:34","modified_gmt":"2018-03-23T18:06:34","slug":"february-new-home-sales-flat-after-upward-revisions-to-prior-months","status":"publish","type":"post","link":"https:\/\/yieldpro.com\/2018\/03\/february-new-home-sales-flat-after-upward-revisions-to-prior-months\/","title":{"rendered":"February new home sales flat after upward revisions to prior months"},"content":{"rendered":"<p>Sales of newly built, single-family homes remained\u00a0virtually unchanged, inching down 0.6 percent in February to a seasonally\u00a0adjusted annual rate of 618,000 units after upward revisions to the January,\u00a0December and November reports, according to newly released data by the U.S.\u00a0Department of Housing and Urban Development and the U.S. Census Bureau.<\/p>\n<p>&#8220;New home sales are at a steady level, which is consistent with our measures\u00a0of solid builder confidence in the housing market,&#8221; said NAHB Chairman Randy\u00a0Noel, a custom home builder from LaPlace, La. &#8220;As housing demand grows,\u00a0builders need to manage increasing costs for labor, lots and building\u00a0materials to keep their homes competitively priced.&#8221;<\/p>\n<p>&#8220;The recent upward revisions to the sales numbers reflect our forecast for a\u00a0gradual strengthening of the single-family housing sector in 2018,&#8221; said\u00a0NAHB Chief Economist Robert Dietz. &#8220;Demographic tailwinds point to higher\u00a0demand for single-family homes in the months ahead. Combined with solid job\u00a0market data, we expect more consumers to enter the housing market this\u00a0year.&#8221;<\/p>\n<p>The inventory of new home sales for sale was 305,000 in February, which is a\u00a05.9-month supply at the current sales pace. The median sales price of new\u00a0houses sold was $326,800.<\/p>\n<p>Regionally, new home sales rose 19.4 percent in the Northeast and 9 percent\u00a0in the South. Sales decreased 3.7 percent in the Midwest and 17.6 percent in\u00a0the West.<\/p>\n<hr \/>\n<h5><strong>About NAHB<\/strong><\/h5>\n<p>The National Association of Home Builders is a Washington-based\u00a0trade association representing more than 140,000 members involved in home\u00a0building, remodeling, multifamily construction, property management,\u00a0subcontracting, design, housing finance, building product manufacturing and\u00a0other aspects of residential and light commercial construction. NAHB is\u00a0affiliated with 700 state and local home builders associations around the\u00a0country. NAHB&#8217;s builder members will construct about 80 percent of the new\u00a0housing units projected for this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sales of newly built, single-family homes remained\u00a0virtually unchanged, inching down 0.6 percent in February to a seasonally\u00a0adjusted annual rate of 618,000 units after upward revisions to the January,\u00a0December and November reports, according to newly released data by the U.S.\u00a0Department of Housing and Urban Development and the U.S. Census Bureau. &#8220;New home sales are at a [&hellip;]<\/p>\n","protected":false},"author":15,"featured_media":6675,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1114,427,605],"tags":[1116,3312,184,247,608,461],"class_list":["post-6669","post","type-post","status-publish","format-standard","hentry","category-apartment-watch","category-national","category-news","tag-apartment-watch","tag-housing-market","tag-hud","tag-nahb","tag-news","tag-washington-dc"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.8 (Yoast SEO v24.8.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>February new home sales flat after upward revisions to prior months | Yield PRO<\/title>\n<meta name=\"description\" content=\"Sales of newly built, single-family homes remained\u00a0virtually unchanged, inching down 0.6 percent in February to a seasonally\u00a0adjusted annual rate of 618,000 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