New Home Sales In The Midwest Spike In February

New home sales in the midwest region of the U.S. shot up 36.7 percent in February from the month before and was up 1.5 percent from February 2013, according to a report just released by the U.S. Commerce Department.  New home sales in the Midwest were at a seasonally-adjusted annual rate of 67,000 homes, up from a rate of 49,000 homes the month before and up slightly from a year ago when new homes in the midwest were selling at at a rate of 66,000 homes per year.

Actual new home sales in the midwest for the first two months of this year are lagging behind this time last year however, with 8,000 new homes sold in the first two months of 2014, down about 11% from the same time last year when there were 9,000 new home sales year-to-date in the midwest.

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