New single-family home sales rise two percent in February
Tight inventories constrict market activity.
Sales of new single-family houses in February 2016 improved slightly over January but continue to be constrained by a dearth of invnetory on the market and rising prices. Sales of new single-family houses in February were at a seasonally adjusted annual rate of 512,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
This is 2.0 percent (±18.8%)* above the revised January rate of 502,000, but is 6.1 percent (±17.9%)* below the February 2015 estimate of 545,000.
The median sales price of new houses sold in February 2016 was $301,400; the average sales price was $348,900.
The seasonally adjusted estimate of new houses for sale at the end of February was 240,000. This represents a supply of 5.6 months at the current sales rate.
CONTRACTOR SUPPLY MAGAZINE
The April/May 2024 issue of Contractor Supply magazine is here!
This digital edition is sponsored by BECK AMERICA Inc.
Our cover story, Masters of Fasteners, visits Interstate Screw Corp. of metro Miami, which serves the fastening needs of south Florida, the Caribbean and Central and South America.
Also in this issue,our Industry Updates cover Adhesives, Tapes and Sealants, Anchoring Systems and Safety and PPE.
This digital edition is fully searchable and contains live links to every advertiser and new product listing. Click away!
