US new home sales dip 0.3% in February 2024

28 Mar 2024 CW Team

The report from the Commerce Department indicated an unexpected decline in the sales of new US single-family homes in February, following an increase in mortgage rates during the month. However, it noted that the overall trend remained robust amidst a persistent shortage of previously owned houses available in the market.

According to Conrad DeQuadros, a senior economic advisor at Brean Capital, housing activity seemed to be stabilizing as homebuilders were observed to be constructing more affordable and likely smaller homes. DeQuadros mentioned that sales had maintained relative stability around the levels seen in December over the past two months, with prices experiencing a decline at mid-single-digit rates on a year-over-year basis.

The data revealed that the median price of new homes last month was the lowest in more than 2-1/2 years, while the supply reached its highest level since November 2022. Builders were reported to be increasing construction efforts and implementing strategies such as price reductions, offering incentives, and reducing floor size to enhance housing affordability.

The Commerce Department's Census Bureau reported a 0.3% decrease in new home sales to a seasonally adjusted annual rate of 662,000 units in the previous month. The sales pace for January was revised upward to 664,000 units from the initially reported 661,000 units. Economists surveyed by Reuters had predicted that new home sales, constituting 13.1% of U.S. home sales, would climb to a rate of 675,000 units. Notably, new home sales are recorded at the contract signing stage, rendering them a leading indicator of the housing market, albeit subject to volatility on a month-to-month basis. Sales saw a year-on-year increase of 5.9% in February.

Infrastructure Urban

30 May 2026

Panasonic Showcases Connected Display Solutions

Panasonic Life Solutions India showcased its integrated display, projection, broadcast and communication technologies at Panasonic Tech Summit 2026 in New Delhi. Hosted through its System Solutions Division, the two-day event highlighted connected technology solutions for education, healthcare, retail, transportation, corporate offices and entertainment.The summit, themed ‘Turning Technology into Value’, featured experience-led zones covering QSR, retail, transit, corporate offices, healthcare, education, security, projection, home theatre and professional displays. Panasonic also introduc..

Kapsch to Deliver India’s First C-ITS Project

"Kapsch TrafficCom will deliver India’s first Cooperative Intelligent Transport Systems project on a key expressway near New Delhi. The project will be implemented with Superwave Communication And Infrasolution Limited to demonstrate how connected mobility can improve road safety and traffic efficiency.The pilot will use real-time connectivity and AI-enabled situational awareness to support road users, especially in high-risk areas such as temporary work zones. Drivers will receive alerts on roadworks, maintenance vehicles, hazardous locations, traffic queues and temporary virtual signage di..

Eurobond Net Profit Rises 44 Per Cent

Euro Panel Products, the parent company of Eurobond, reported a 44.13 per cent year-on-year rise in net profit for FY25–26. The company’s revenue from operations grew 18.91 per cent to Rs 503.20 crore, compared to Rs 423.18 crore in the previous financial year.The company’s full-year EBITDA stood at Rs 56.67 crore, marking a 31.82 per cent increase. Profit after tax rose to Rs 26.56 crore, while net worth increased 20.15 per cent to Rs 160.07 crore. Earnings per share for the year stood at Rs 10.84.Divyam Rajesh Shah, Whole Time Director and CFO, Euro Panel Products, said the company’s..