February New Home Sales Increased to 667,000 Annual Rate

March 29, 2019 ‐ 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 2019:

New Houses Sold: 667,000

New Houses For Sale: 340,000

Median Sales Price: $315,300

Next Release: April 23, 2019

New Home Sales
Sales of new single family houses in February 2019 were at a seasonally adjusted annual rate of 667,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 4.9 percent above the revised January rate of 636,000 and is 0.6 percent above the February 2018 estimate of 663,000.

Sales Price
The median sales price of new houses sold in February 2019 was $315,300. The average sales price was $379,600.

For Sale Inventory and Months’ Supply
The seasonally adjusted estimate of new houses for sale at the end of February was 340,000. This represents a supply of 6.1 months at the current sales rate.

Notes:
1. The all time high for February was 109,000 in 2005, and the all time low for February was 20,000 in 2010.
2. Sales for January were revised up. However sales for November and December were revised down. With these revisions, sales increased 1% in 2018 compared to 2017.