New Residential Single-Family Home Sales Rise in January

On Friday (2-24-23), the US Census Bureau and the Department of Housing and Urban Development jointly announced that new residential single-family home sales for January were at a SAAR of 670,000, according to estimates. This is 7.2% above the revised December rate of 625,000 but is 19.4% below the January 2022 estimate of 831,000.

The median sales price of new houses sold in January was $427,500. The average sales price was $474,400.

The seasonally adjusted estimate of new houses for sale at the end of January was 439,000. This represents a 7.9-month supply based on the current rate of sales.

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