Sales of new homes in the U.S. increased by 1.8% in February 2025, reaching an annual rate of 676,000, despite affordability challenges, particularly in the Northeast, where sales fell by 48.8%. The South led in sales with 438,000 homes sold. The median price for new homes was $414,500. Existing home sales rose by 4.2% nationally but declined by 2.0% in the Northeast. The average mortgage rate was 6.67%. Overall, the market shows slight gains nationally but significant struggles in the Northeast, with ongoing inventory issues affecting affordability.
Continue to full article