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Special Topics
by Tom Moeller March 24, 2005
Sales of new single-family homes recovered 9.4% in February to 1.226M after the little revised 8.6% January decline. Consensus estimates had been for sales of 1.150M.
The rise in sales last month was led by a 9.9% recovery in the Midwest (-6.8% y/y) after the one-third drop in January. In the Northeast sales surged 20.3% (-3.5% y/y) and in the South sales jumped 9.0% (+15.5% y/y). In the West sales gained 7.4% (-1.7% y/y).
The median price of a new single family home jumped 9.6% to $230,700 (+5.1% y/y).
The figures from the Census Department reflect homes sold.
| Homes Sales (000s, AR) | Feb | Jan | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| New Single-Family | 1,226 | 1,121 | 5.2% | 1,198 | 1,089 | 976 |
