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U.S. New Home Sales Remain Strong
Builders sold new U.S. homes at an annual rate of 411,000 units in February compared with a revised 431,000 unit-pace in January, the Dept. of Commerce reports.
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Builders sold new U.S. homes at an annual rate of 411,000 units in February compared with a revised 431,000 unit-pace in January, the Dept. of Commerce reports.
Despite the month-over-month decline, the start of 2013 marked the strongest two-month sales period in more than four years. Volume in February was 12.3% higher than a year earlier.
Automakers say rebounding home construction has fueled demand for fullsize pickup trucks in recent months. U.S. sales of those vehicles, which are favored by contractors as work trucks, jumped 21% to 266,500 units in the first two months of this year compared with an 8% increase in the overall light vehicle market.
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