Posted March 25, 2024

US New Home Sales Slip 0.3% in February

Average selling price runs $485,000.

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 2024:

New Home Sales

Sales of new single?family houses in February 2024 were at a seasonally adjusted annual rate of 662,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.3 percent (±16.2 percent)* below the revised January rate of 664,000, but is 5.9 percent (±14.3 percent)* above the February 2023 estimate of 625,000.

Sales Price

The median sales price of new houses sold in February 2024 was $400,500. The average sales price was $485,000.

For Sale Inventory and Months’ Supply

The seasonally?adjusted estimate of new houses for sale at the end of February was 463,000. This represents a supply of 8.4 months at the current sales rate.