US February new home sales 772K vs 810K expected

  • February US new home sales data
new home sales
  • Prior was 801K
  • Single family sales -2.0% vs -4.5% prior (revised to -8.4%)
  • New home supply 6.3 months vs 6.1 months prior
  • Homes for sale 407K vs 398K prior
  • Median price +10.7% y/y at $362K

This is a disappointing reading but comes after a pop late last year. It's tough to get a read from builders right now because of product shortages throughout the supply chain.

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