Sales of New Single-Family Homes Down 9.2% in January

Washington, DC, February 24, 2016—Sales of new single-family houses in January 2016 were at a seasonally adjusted annual rate of 494,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.2% below the revised December rate of 544,000 and is 5.2% below the January 2015 estimate of 521,000.

The median sales price of new houses sold in January 2016 was $278,800; the average sales price was $365,700. The seasonally adjusted estimate of new houses for sale at the end of January was 238,000. This represents a supply of 5.8 months at the current sales rate.