
Core Report | March 28, 2025
After a slow start to the year, new home sales rebounded in February. February new home sales came in at a 676,000 unit rate, up 1.8% from January and up 5.1% from February 2024.
After a slow start to the year, new home sales rebounded in February. February new home sales came in at a 676,000 unit rate, up 1.8% from January and up 5.1% from February 2024.
New residential construction rebounded in February after starting off the year on a slow note. February new housing starts came in at a 1.501 million unit rate, up 11.2% from January, but still down 2.9% compared to the 1.546 million unit rate in February 2024.
Shipments of HVAC equipment started the year on a stronger note after sliding the previous two months. HVAC equipment shipments totaled 1.669 million units, up 8.6% from December, but were down 0.6% from the 1.678 million unit total in January 2024.
New orders for manufactured durable goods rebounded in January after sliding the previous two months, coming in at a $286.0 billion rate. This is up $8.7 billion or 3.1% after sliding 1.8% in December.
Business activity in the New York region increased in February after declining to start the year. The February Empire Manufacturing Index came in at 5.7, up from -12.6 in January and the highest reading since November.
Business activity in the New York region increased in February after declining to start the year. The February Empire Manufacturing Index came in at 5.7, up from -12.6 in January and the highest reading since November.
Economic activity in the manufacturing sector expanded in January, the first expansion after 26 consecutive declines.
Economic activity in the manufacturing sector expanded in January, the first expansion after 26 consecutive declines.
Sales of new homes ended the year on a strong note as sales increased for the second consecutive month. December new home sales came in at a 698,000 unit rate, up 3.6% from November and up 6.7% from the 654,000 unit rate in December 2023.
Sales of existing homes ended the year on a strong note with sales hitting a ten-month high.