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Indiana Builders Association
Legislative and Regulatory Report #9
March 30, 2006
A 10.5 percent decline in sales of newly built single-family homes in February was reported by the U.S. Commerce Department today. “When looking at these numbers, you have to step back and focus more on trends than on month-to-month shifts to see meaningful patterns,” added NAHB Chief Economist David Seiders. “This government report traditionally has lots of month-to-month volatility and is subject to substantial revision.” Sales of new single-family homes remained above the million-unit mark, at a seasonally adjusted annual rate of 1.08 million in February. Sales improved in both the Northeast and Midwest (by 12.7 percent and 5.2 percent respectively), but fell 6.4 percent in the south – in addition to the nearly 30 percent decline in the west.
