Today, the
U.S. Census Department released its monthly
New Residential Home Sales Report for February showing sales increased 2.0% from January but still remained 6.1% below the level seen in February 2015 and remaining near an historically low level with 512K SAAR units.
The monthly supply remained flat at 5.6 months while the median selling price increased 2.55% and the average selling price declined 1.97% from the year ago level.
The following chart show the extent of sales decline to date (click for full-larger version).
