Sunday, 11 April 2021 | The Latest Buzz for the Appraisal Industry

New home sales plunge 18.2%, but demand stays strong

After a near decade high in January, new home sales for single-family houses plummeted 18.2% to a seasonally adjusted annual rate of 775,000 in February — the sharpest month-over-month decline since 2013, according to estimates by the U.S. Census Bureau and the Department of Housing and Urban Development.

However, continued demand by homebuyers did manage to push new home sales 8.2% higher than a year ago, though not nearly as high as January’s 19.3% year-over-year jump.

The post New home sales plunge 18.2%, but demand stays strong appeared first on HousingWire.

Original Post: https://www.housingwire.com/articles/new-home-sales-plunge-18-2-but-demand-stays-strong/

Author: Housing Wire

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