New House Sales Jump 6.2%

Sales of new houses spurted 6.2% in February after dropping 0.5% in January as the average home price reached $101,300, the Commerce Department said today.

The annual rate of home sales reached 638,000 based on February’s sales activity, the department said. That rate was just slightly under the sales rate all last year of 639,000 new houses. The average price for all of last year was $97,600.