New Home Sales in U.S. Uptick in February

According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes rose to a seasonally adjusted annual rate of 667,00 units in February 2019 after an upwardly revised January 2019 report. This is the highest sales pace since March 2018. The sales report was delayed due to the partial government shutdown. "The recent decline in mortgage rates have helped boost sales activity as home buyers take advantage of these lower interest rates," said Greg Ugalde, chairman of the National Association of Home Builders.