US New Residential Home Sales Rise 1.1% Month-Over-Month in February

Posted on March 23, 2023

On Thursday (3-23-23), the US Census Bureau and the Department of Housing and Urban Development jointly announced that new residential single-family home sales for February were at a SAAR of 640,000, according to estimates. This is 1.1% above the revised January rate of 633,000 but is 19.0% below the February 2022 estimate of 790,000.

The median sales price of new houses sold in February was $438,200. The average sales price was $498,700.

The seasonally adjusted estimate of new houses for sale at the end of February was 436,000. This represents a supply of 8.2 months based on the current rate of sales.

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