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February New Home Sales

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New Home Sales for February, which measures signed contracts, were reported up a whopping 8% at a 539kk unit pace. This was better than expected and the strongest number we have seen in almost 8 years! Additionally, last month’s number was revised even higher. Median home prices were up 4% to $275,500, but supply was a bit low at 4.7 months. This was a very strong report.