Housing Market, New Home Sales | featured news

Sales of new single-family homes rose in March, indicating the housing market recovery remains on track.

Sales of new homes fell in February after climbing to the highest level in more than four years in January. Sales of new homes dropped to a seasonally adjusted annual rate of 411,000 in February, the Commerce Department reported Tuesday. That is a decline of 4.6 percent from the January level of 431,000, which had been the strongest sales pace since September 2008.

The US economy registers surprisingly strong consumer confidence and new home sales data, suggesting the recovery is gathering steam.

New single-family home sales fell slightly in October and the prior month's pace of sales was revised sharply lower, casting a small shadow over what has been one of the brighter spots in the U.S. economy.

U.S. builders started construction last month on the most single-family homes and apartments since July 2008, more evidence that the housing recovery is gaining momentum.

New U.S. single-family home sales eased in August but held near two-year highs and prices vaulted to their highest level in more than five years, adding to signs of a broadening housing market recovery.

New single-family home sales surged in May to a one-year high and prices rose from a year ago amid tightening supply, further signs the housing market was gaining some momentum.

Sales of new homes dipped in January but the final quarter of 2011 was stronger than first estimated.

Fewer people bought new homes in December. The decline made 2011 the worst year for new-homes sales on records dating back nearly half a century. The Commerce Department said Thursday new-home sales fell 2.2 percent last month to a seasonally adjusted annual pace of 307,000. The pace is less than half the 700,000 that economists say must be sold in a healthy economy.

Americans bought slightly more new homes in October, a hopeful sign for the troubled housing market. But the median sales price fell to its lowest level of the year, and the overall sales pace is trailing last year's - the worst in half a century.