New-Home Sales Hit 7-Year Peak

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Despite the harsh winter and low construction starts, new-home sales increased.

March 25, 2015
New-Home Sales Hit 7-Year Peak

After a sharp fall of demand in some regions in January, the pace of new-home sales climbed 7.8 percent in February, MarketWatch reports.

This marks a new post-Recession record, as it is the first time since early 2008 that new-home sales have reached 500,000 or more for two straight months. The results were at odds with what economists polled by MarketWatch had projected last month, which was a fall to a seasonally adjusted 455,000.

Analysts are optimistic that a bigger surge of new-home sales will occur in spring, as the economy is creating jobs at the fastest pace in 15 years.

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