New Home Sales: Update 2/25

New Home Sales, which measures signed contracts on new homes, were up 4.3% in January, which was twice as good as expectations…but doesn’t tell the whole story. December was revised much higher and when you factor in the revision, sales are up 10%. Sales are up over 19% year over year. Inventory is down 6% at 307,000 new homes for sale. The median home price as reported at $346,400, up 5.3% year over year.