New home sales climb 7.8 percent in February

Sales trend 24.8 percent higher than in Feb. 2014.

Sales of new single-family houses in February 2015 were at a seasonally adjusted annual rate of 539,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 7.8 percent (±15.2%)* above the revised January rate of 500,000 and is 24.8 percent (±20.4%) above the February 2014 estimate of 432,000.

The median sales price of new houses sold in February 2015 was $275,500; the average sales price was $341,000. The seasonally adjusted estimate of new houses for sale at the end of February was 210,000. This represents a supply of 4.7 months at the current sales rate.