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Posted March 30, 2015

New, Single-Family Home Sales Rise in February

The NAHB weighed in on February's 7.8% increase in sales of newly built, single-family homes, calling it "a great start to the spring buying season,” according to Tom Woods, chairman of the National Association of Home Builders (NAHB) and a home builder from Blue Springs, Mo. “Hopefully, this is an indicator of how the rest of the year will fare.”


The increase represents a seasonally adjusted annual rate of 539,000 units from an upwardly revised January reading, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. This is the highest sales pace since February 2008.

The bulk of sales activity is from current home owners who are buying up for a newly-constructed home and taking advantage of current interest rates, noted NAHB Chief Economist David Crowe. “First-time home buyers remain absent from the market, restricted by tight lending conditions.”

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