New Residential Single-Family Homes Sales Down Month-Over-Month and Year-Over-Year in February

On Wednesday (3-23-22), the U.S. Census Bureau and the Department of Housing and Urban Development jointly announced that new residential single-family home sales for February 2022 were at a seasonally adjusted annual rate of 772,000, according to estimates. This is -2.0% below the revised January rate of 788,000 and is -6.2% below the February 2021 estimate of 823,000.

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.

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

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.