Core Report | March 24, 2023

Despite the sharp downward revision to January’s total, new home sales continued to show growth in February. February new home sales came in at a 640,000 unit rate, up 1.1% from January but still down 19.0% from the 790,000 unit rate in February 2022. This is the third consecutive month and the fourth time in the last five months in which sales have increased on a month-over-month basis. The current sales rate is at its highest level since August.