New home sales rise 3.7 percent in January
Average new home price rises to $360,900.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for January 2017:
New Home Sales
Propelled in part by an ongoing dearth of existing homes on the market, sales of new single-family houses in January 2017 were at a seasonally adjusted annual rate of 555,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 3.7 percent (±18.5 percent)* above the revised December rate of 535,000 and is 5.5 percent (±25.4 percent)* above the January 2016 estimate of 526,000.
The median sales price of new houses sold in January 2017 was $312,900. The average sales price was $360,900.
For Sale Inventory and Months’ Supply
The seasonally-adjusted estimate of new houses for sale at the end of January was 265,000. This represents a supply of 5.7 months at the current sales rate.