The National Association of Home Builders (NAHB) reports sales of newly-built, single-family homes fell 3.3 percent to a seasonally annual adjusted rate (SAAR) of 440,000 units in February, 2014, based on data from the Census Bureau and the Department of Housing and Urban Development (HUD). “We still expect 2014 will be a strong year for housing,” said NAHB Chief Economist David Crowe. “The first two-month average of 2014 is exactly in line with where 2013 left off. If not for the unusual weather, we would easily be ahead of last year’s pace. We also continue to see household formations and pent-up demand driving sales forward.” Regionally, new home sales fell 32.4 percent in the Northeast, 15.9 percent in the West, and 1.5 percent in the South. MHProNews.com has learned sales grew in the Midwest 36.7 percent, following a particularly slow January. ##
