Sales of new U.S. homes climbed 4.9 percent in February, an indication that falling mortgage rates have given a boost to demand from buyers.
FILE- In this Feb. 21, 2019, file photo a newly constructed homes sit near a sign in Natick, Mass. On Friday, March 29, the Commerce Department reports on sales of new homes in February.
WASHINGTON — The Commerce Department says that new homes sold at a seasonally adjusted annual rate of 667,000 in February, an increase from an upwardly revised 636,000 in January. New-home sales are running 2.8 percent higher through the first two months of 2019 than during the same period last year.
A sharp drop in mortgage rates has eased affordability pressures and aided homebuying. The average 30-year mortgage rate climbed for much of 2018 to roughly 5 percent in November, only to dip to nearly 4 percent this week, according mortgage buyer Freddie Mac.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Existing-home sales roar back in February, touching an 11-month highSales of previously-owned homes surged back, leaving forecasts in the dust, reaffirming strong demand for housing amid familiar headwinds.
Read more »
Pending home sales weaken in February after strong start to the yearPending home sales fell 1% in February, the National Association of Realtors reported Thursday, to take the year-over-year decline to 4.9%.
Read more »
U.S. existing home sales surge, boosted by Fed's signal on ratesU.S. home sales surged in February to their highest level in 11 months, a sign t...
Read more »
Pending home sales drop 1% in February, despite lower mortgage ratesThe supply of homes for sale has been rising steadily, up just over 3 percent in February compared with a year ago. Home prices are still rising, but the gains have been shrinking each month for nearly a year.
Read more »
Southern California home sales slowdown deepened in February; agents see busier times aheadSouthern California home prices barely rose in February from a year earlier, as buyers continue to struggle with the high cost of housing, according to a report out Wednesday.
Read more »
Existing-home sales roar back in February, hitting an 11-month highSales of previously-owned homes surged back, leaving forecasts in the dust, reaffirming strong demand for housing amid familiar headwinds.
Read more »
US auto sales are falling, and cars are more expensive than everThe biggest declines in sales are happening at the lower end, where buyers have fewer options as companies pull back on making cheaper cars.
Read more »
Get Out! Jordan Peele's 'Us' shatters records with $70.3M
Read more »
U.S. auto sales seen falling in March: J.D. Power, LMC AutomotiveU.S. auto sales are expected to drop about 2.1 percent in March from a year earl...
Read more »
China's Huawei sees little impact on sales from U.S. broadsideThe U.S. campaign against China's Huawei is having little impact on the com...
Read more »