New Homes Sales Dip in February

Sales dip 4.6 percent from January but trend 12.3 percent over 2012.

Sales of new single-family houses in February 2013 were at a seasonally adjusted annual rate of 411,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 4.6 percent (±20.4%)* below the revised January rate of 431,000, but is 12.3 percent (±23.3%)* above the February 2012 estimate of 366,000.

The median sales price of new houses sold in February 2013 was $246,800; the average sales price was $313,700. The seasonally adjusted estimate of new houses for sale at the end of February was 152,000.

This represents a supply of 4.4 months at the current sales rate.