Market update: February new home sales rise 2%

This morning’s new home sales report showed a 2% rise, to a seasonally-adjusted rate of 512,000 units. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“The West carried February’s new home sales, while every other region saw declines in purchase activity. However, I wouldn’t be too concerned with the recent weakness we’ve been seeing, as the housing market continues its slow but healthy rise overall.”

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