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US new home sales surge to 7-year high in February

by ChemOrbis Editorial Team - content@chemorbis.com
  • 24/03/2015 (17:48)
According to data released by the US Commerce Department, new home sales in the US surged to a seven year high in February. New home sales increased 7.8% to 539,000 units on a seasonally adjusted basis in February from January’s upwardly revised pace of 500,000 units. Economists’ initial estimates called for a pace of 465,000 units in February, according to a survey conducted by Reuters.

New home sales in the Northeast surged 152.9% while sales in the Midwest fell 12.9%. New home sales climbed 10.1% in the South while they declined 6% in the West.
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