MNI DATA ANALYSIS: US Feb Home Sales Fall 0.6% To 618k SAAR>

--Feb Months' Supply Up 1.7% To 5.9 Months vs 5.8 in Jan  

--Feb New Homes For Sale +2.0% to 305k; Highest Since Mar 2009

By Sara Haire and Holly Stokes

     WASHINGTON (MNI) - New single-family home sales pace slowed down 

slightly by 0.6% to 618,000, following sharp upward revisions to 

January, December, and November, data released by the Commerce 

Department Friday showed. 

     New home sales pace came in only mildly softer than the expected 

620,000, based on an MNI survey of economists. 

     The supply of new homes for sale rose 2.0% to 305,000 in February, 

surpassing the high 299k in January, making this the highest level seen 

since March of 2009 when it reached 311k. Based on the movements in 

sales and supply in February, the months' supply increased only 1.7% to 

5.9 months, up slightly from January's revised down 5.8, and above the 

5.1 months supply a year ago. 

--MILD PRICE INCREASE

     Despite the supply of new homes rising and the sales pace only 

moderating slightly in February, the median sales price rose 0.6% to 

$326,800. This is still well above the $298,000 in February 2017, but 

significantly lower than the levels seen in November and December. The 

average sales price saw a very small decline to $376,700. 

     Sales throughout the regions were mixed. The large south region saw 

a 9.0% increase and the Northeast increased 19.4%. However, the Midwest 

and the West declined by 3.7% and 17.6%, respectively.  

     January new homes sales were revised up sharply to 622,000 rate 

from the 593,000 rate previously reported. December sales were revised 

up to a 653,000 rate from the 643,000 pace previously reported. November 

also saw an upward revision to 711k from the 696k seen previously.  

             ** MNI Washington Bureau (202) 371-2121 ** 

[TOPICS: MAUDS$,MT$$$$,M$U$$$,MAUDR$]