New Home Sales Fall (March 23)

New Home Sales for February decreased to a 250,000 annual pace, following a revised 301,000 pace in January. Over the year New Home Sales are down 28.0% from 347,000 in February of 2010. The median sales price was $202,100 and the average sales price was $246,000. The estimate of new houses for sale at the end of February was 186,000, representing a supply of 8.9 months at the current sales rate.

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