New US Residential Single-Family Home Sales Rise 1.8% in February

On Tuesday, the US Census Bureau and Department of Housing and Urban Development jointly announced that new residential single-family home sales for February were at a seasonally adjusted annual rate (SAAR) of 676,000, according to estimates. This is 1.8% above the revised January rate of 664,000 and 5.1% above the February 2024 estimate of 643,000.

The median sales price of new houses sold in February was $414,500. The average sales price was $487,100.

The seasonally adjusted estimate of new houses for sale at the end of the month was 500,000. This represents a supply of 8.9 months at the current sales rate.