New Home Sales Declined 2% in February

Washington, DC, March 23, 2022-Sales of new single‐family houses in February 2022 were at a seasonally adjusted annual rate of 772,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 2.0% below the revised January rate of 788,000 and 6.2% below the February 2021 estimate of 823,000.

The median sales price of new houses sold in February 2022 was $400,600. The average sales price was $511,000.

The seasonally adjusted estimate of new houses for sale at the end of February was 407,000. This represents a supply of 6.3 months at the current sales rate.