New Home Buying in 2016 is Behind Last Year’s Pace

There’s a new report underscoring uncertainty in the housing market.

FOX’s Dave Anthony reports:

New home sales increased two percent last month because of a surge in buying in the West. Sales dropped in the Northeast, Midwest and South and the government reports overall nationwide, new home buying, so far in 2016 is behind last year’s pace.

 The median sales price though is up more than two percent to just over $301,000.

Earlier this week, the National Association of Realtors reported previously owned home sales, by far the largest part of the housing market, dropped seven percent in February.

A limited supply of homes for sale is a factor.

Dave Anthony, FOX News.