New US Residential Single-Family Home Sales Up Month-Over-Month and Year-Over-Year in January

On Monday, the US Census Bureau and Department of Housing and Urban Development jointly announced that new residential single-family home sales in January were at a seasonally adjusted annual rate (SAAR) of 661,000, according to estimates. This is 1.5% above the revised December 2023 rate of 651,000 and 1.8% above the January 2023 estimate of 649,000.

The median sales price of new houses sold in January was $420,700. The average sales price was $534,300.

The seasonally adjusted estimate of new houses for sale at the end of January was 456,000. This represents a supply of 8.3 months based on the current rate of sales.