Posted March 23, 2022

U.S. New Home Sales Slip 2 Percent in February

Average price hits $511,000.

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 2022:

New Home Sales

Sales of new singlefamily houses in February 2022 were at a seasonally adjusted annual rate of 772,000, 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 (±11.9 percent)* below the revised January rate of 788,000 and is 6.2 percent (±13.7 percent)* below the February 2021 estimate of 823,000.

Sales Price

The median sales price of new houses sold in February 2022 was $400,600. The average sales price was $511,000.

For Sale Inventory and Months’ Supply

The seasonallyadjusted estimate of new houses for sale at the end of February was 407,000. This represents a supply of 6.3 months at the current sales rate.