New Home Sales Surged Last Month

Washington, DC, March 24, 2015—New home sales rose at the fastest pace in seven years in February, reports the Commerce Department, increasing 7.8% last month to a seasonally adjusted rate of 539,000.

This is the strongest performance since February 2008.  

In addition, the median sales price rose 2.6% over February 2014 to $275,000.