New Home Sales Fell 7.8% in January

Washington, DC, February 26, 2018-Sales of new single-family houses in January 2018 were at a seasonally adjusted annual rate of 593,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 7.8% below the revised December rate of 643,000 and is 1.0% below the January 2017 estimate of 599,000.

The median sales price of new houses sold in January 2018 was $323,000. The average sales price was $382,700.

The seasonally-adjusted estimate of new houses for sale at the end of January was 301,000. This represents a supply of 6.1 months at the current sales rate.