New home sales rise 6.1 percent in February
Average selling price is $390,400 as sales rate hits seven-month high.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for February 2017: 
New Home Sales
Sales of new single-family houses in February 2017 were at a seasonally adjusted annual rate of 592,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.1 percent (±17.3 percent)* above the revised January rate of 558,000 and is 12.8 percent (±18.0 percent)* above the February 2016 estimate of 525,000. February's sales rate was the highest level in seven months.
Sales Price
The median sales price of new houses sold in February 2017 was $296,200. The average sales price was $390,400.
For Sale Inventory and Months’ Supply
The seasonally-adjusted estimate of new houses for sale at the end of February was 266,000. This represents a supply of 5.4 months at the current sales rate.
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