Wednesday, February 25, 2015

New Home Sales Relatively Unchanged in January, Home Price Declined

Sales of new single-family houses in January were a seasonally adjusted annual rate of 481,000, according to the U.S. Census Bureau and Department of Housing and Urban Development. The January rate is 0.2% below the revised December rate of 482,000, yet 5.3% above the year-ago rate of 457,000.

New home sales in two of the four regions increased this month. Sales in the Midwest rose 19.2% and the South rose 19.2%, whereas the Northeast decreased 51.6% and the West dipped 0.8%.

The median sales price of new homes sold in January was $294.300, down 2.6% from December. The average price was $348,300, down 8% from December.

At the end of January, there were an estimated supply of 5.4 months at the current sales rate.

Read the Census report.

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