New Home Sales Rose 14.3% YOY in February

Washington, DC, March 24, 2020-Sales of new single-family houses in February 2020 were at a seasonally adjusted annual rate of 765,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 4.4% below the revised January rate of 800,000 but is 14.3% above the February 2019 estimate of 669,000.

The median sales price of new houses sold in February 2020 was $345,900. The average sales price was $403,800.

The seasonally-adjusted estimate of new houses for sale at the end of February was 319,000. This represents a supply of 5.0 months at the current sales rate.