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Special Topics
by Tom Moeller April 26, 2005
New single-family home sales set a new record in March with a 12.2% m/m jump to 1.431M following the upwardly revised 8.2% increase in February. Consensus estimates had been for sales of 1.190M.
Last month's sales gain was led by a 21.9% jump in the Midwest (13.6% y/y) and a 13.8% (18.6% y/y) rise in the South. Sales in the West also rose 9.9% (5.0% y/y) but in the Northeast sales fell 8.9% (+1.2% y/y) after a jump one third higher in February.
The median price of a new single family home gave back all of the prior month's gain and fell 9.3% to $212,300 (+1.3% y/y).
The figures from the Census Department reflect homes sold.
The cost of business cycles and the benefits of stabilization from the Federal Reserve Bank of Chicago is available here.
| Homes Sales (000s, AR) | Mar | Feb | Y/Y | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| New Single-Family | 1,431 | 1,275 | 12.7% | 1,200 | 1,089 | 976 |
