Census: New Home Sales Rise With Decline In Median Price
The Census Bureau reported new home sales for February that were 12.8 percent higher than a year ago. New home sales posted at a seasonally adjusted annual rate of 592,000, with the bulk of the sales increase coming from the Midwest region.. The median price of a new home contracted in February was $296,200, down from $311,300 last year. The average price of a new home contracted in February posted a surprisingly large increase to $390,400. The big decline in median prices (down over $15,000) from last year likely helped to boost February sales. Mortgage [...]