New-home sales inch up in February

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Sales of new single-family homes inched up in February after posting a large gain in January, according to Mortgage Bankers Association (MBA) data.

Single-family home sales rose 1 percent month over month to a seasonally adjusted annual rate of 533,000 units in February, according to the MBA’s latest Builder Application Survey (BAS). That slight increase came after sales leaped a seasonally adjusted 35 percent month over month in January.

Source: MBA