New single-family home sales rose to a seasonally adjusted annual rate of 555,000 in January, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The January level was 3.7% above the revised December rate of 535,000 and 5.5% above the January 2016 level.
The median price of a new home was $312,900, down 3.0% from December. The average price was $360,900.
At the end of January there was an estimated supply of 5.7 months at the current sales rate, unchanged from December.
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