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Thursday, March 23, 2017

February 2017 US new home sales 0.592m vs 0.565m exp m/m

  • Prior 0.555m. Revised to 0.558m
  • Supply 5.4 months vs 5.6 months prior
  • Median sale price $296,200 vs $312,900 in Jan & $311,300 Feb 2016
  • Feb homes for sale 0.266m vs 0.262m prior
A pickup in sales and a drawdown in supply should be positive for prices but we've seen a drop on the month and year. That will keep the Fed happy that the housing market isn't heating up.

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