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

Posted on March 23, 2022

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.

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