Posted February 26, 2020

New home sales rise 7.9 percent in January

Average sales price is $402,300. 

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 2020:

New Home Sales

Sales of new single‐family houses in January 2020 were at a seasonally adjusted annual rate of 764,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 7.9 percent (±17.8 percent)* above the revised December rate of 708,000 and is 18.6 percent (±19.2 percent)* above the January 2019 estimate of 644,000.

Sales Price

The median sales price of new houses sold in January 2020 was $348,200.  The average sales price was $402,300.  

For Sale Inventory and Months’ Supply

The seasonally‐adjusted estimate of new houses for sale at the end of January was 324,000.  This represents a supply of 5.1 months at the current sales rate.