U.S. New Home Sales Decline 18% in February

New home sales in the United States declined by 18.2% in February to 775,000, compared with their level in January, data by the U.S. Census Bureau showed on Tuesday.

On an annual level, new home sales rose by 8.2% last month, compared with their level in February 2020.

Data further showed that the median price of new homes sold during February stood at $349,400, rising by 5.3% year-on-year.

On the supply front, an estimated 312,000 new homes were available for sale nationwide last month, up by 2.6% on a monthly basis, but down by 4.6% on an annual basis.