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US new home sales at seven-month high in Feb

by ChemOrbis Editorial Team -
  • 24/03/2017 (11:58)
According to data released by the US Commerce Department, new U.S. single-family home sales posted a significant increase in February after a rebound in January and reached its highest level of seven months.

New home sales climbed by 6.1% on a monthly basis to 592,000 units in February after an increase of a revised 5.3% in January. They were also up by 12.8% on a yearly basis.

The jump in home sales in the second month of the year was mainly driven by a sharp rise in home sales in the Midwest and the West, where sales posted respective increases of 30.9% and 7.5%.
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