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The USA housing market's leading indicator of new home sales is warming up, but inventory has reached the highest level since 2007, and house prices have dropped 1.5% year-on-year.
In February, new home sales in the USA increased by 1.8% month-on-month, compared to an expected increase of 3.5%, while the previous January value showed a significant drop of 10.5%. In February, the supply of newly built homes rose by 0.8%, reaching 0.5 million units, the highest level since 2007. The median sale price of new homes decreased by 1.5% compared to last year, falling to 0.4145 million dollars.
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