Sales of new single-family homes rose 2 percent in February, following an upward revision to January’s figures, the National Association of Home Builders said.
Citing government data, the NAHB said February’s sales reflect a 512,000-unit annual rate.
"The February bounce back in sales is in line with our builders' reports that the housing market continues to recover at a slow but steady pace," said Ed Brady, chairman of the NAHB and home builder and developer from Bloomington, Illinois.
NAHB Chief Economist Robert Dietz said sales should continue to be healthy.
“While builders contend with industry headwinds such as labor shortages, relatively low mortgage interest rates and solid job growth should keep the housing market moving ahead as we enter the spring buying season," he said.