New Residential Single Family Home Sales Up 4.3% from December 2020 and Up Year-Over-Year 19.3%

The U.S. Census Bureau is reporting that according to their estimates new residential single-family home sales for January 2021 were at a seasonally adjusted annual rate (SAAR) of 923,000. This is 4.3% above the revised December rate of 885,000, and is 19.3% above the January 2020 estimate. The median sales price of new houses sold in January 2021 was $346,400. The average sales price was $408,800. The seasonally-adjusted estimates of new houses for sales at the end of January was 307,000. This represents a 4.0 months’ supply based on the current rate of sales.