Steel Markets
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/media/k2/items/src/d9085a2345d6486637b08997a667c6fe.jpg)
February Home Sales Strong Before Coronavirus Impact
Written by Sandy Williams
March 23, 2020
Sales of new homes in February rose 4.4 percent to a seasonally adjusted annual rate of 765,000, according to estimates by the U.S. Census Bureau and the Department of Housing and Urban Development. Compared to February 2019, sales jumped 14 percent.
“New home sales were solid in February before challenges associated with the coronavirus set in on the economy,” said National Association of Home Builders Chief Economist Robert Dietz.
“The January and February sales figures, helped by warm weather during the winter, were the best recorded seasonally adjusted annual rates since the Great Recession,” he added.
The median sales price of a new house sold in February 2020 was $345,900 and the average price $403,800. An estimated 319,000 homes were for sale at the end of the month, representing a supply of 5.0 months at the current sales rate.
Dietz expects the pace of new home sales to decline in the second quarter as the coronavirus impacts employment and shutdowns restrict buyer activity.
“However, given the momentum housing construction held at the start of 2020, the housing industry will certainly be a sector leading the economy in the eventual recovery,” he added.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2023/04/sandy-williams.jpeg)
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Markets
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/coils2.png)
US steel imports slipped in August after rising in July
July represents the second-lowest monthly rate for steel imports so far this year.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/steel_trade.png)
CRU Insight: Decarbonization will reshape global steel trade flow
This CRU Insight explores how decarbonization will play a significant role in redefining steel trade patterns by shifting regional competitiveness and increasing steel demand needs.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/price_question.png)
Steel Summit 2024: Leading analysts forecast coming year for steel
Leading industry analysts on Monday discussed steel prices and how they will be impacted by trade policy, consolidation, mill discipline, November’s elections, and more.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/AISI.png)
AISI: Raw steel output jumps, capability surpasses 80%
Having risen for three weeks in a row, weekly production is now at the highest rate seen since February 2023.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/worldsteel_logo.png)
Monthly steel output falls in China, rises in RoW
Global steel output fell 5% in July according to World Steel Association’s (worldsteel) latest release. Total steel mill production around the world tallied up to 152.8 million metric tons (mt) for the month of July, the second-lowest monthly rate seen this year.