The U.S. Department of Housing and Urban Development and U.S. Department of Commerce’s New Residential Sales Report for February shows sales of new homes fell 1.6 percent from January to a seasonally adjusted annual rate of 313,000. But though sales slipped from the month before, year-over-year sales were up 11.4 percent. Also in the report, the median price of new houses sold in February was $233,700. That’s 8.3 percent above January and the highest it’s been since last June. Compared to February 2011, the median price was up 6.2 percent. The estimated number of new homes for sale at the end of the month was 150,000, which represents a 5.8-month supply at the current sales pace. More here.

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