Rate of New Home Sales Hits a 7-Month High in February

Even though mortgage rates have risen a bit and supply has dwindled, the data from February shows sales of newly constructed homes have hit their fastest pace since July 2016. The Commerce Department has been spreading the news today and the news is good for the housing market. According to the released figures, new-home sales ran at a seasonally adjusted annual rate of 592,000. Don’t worry if this figure doesn’t have you jumping for joy, the important thing to know...

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