Sales of newly built, single-family homes fell 3.3% to a seasonally adjusted annual rate of 440,000 units in February, according to newly released figures from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
“There is no doubt that the persistently bad weather took a toll on sales in February,” said Kevin Kelly, chairman of the National Association of Home Builders (NAHB) and a home builder from Wilmington, Del. “However, builders continued to increase their inventory of for-sale homes, indicating they still anticipate a relatively strong spring buying season.”