New single-family home sales rose to a seasonally adjusted annual rate of 592,000 in February, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The February level was 6.1% above the revised January rate of 558,000 and 12.8% above the February 2016 level.
The median price of a new home was $296,200, down 3.9% from January. The average price was $390,400.
At the end of February there was an estimated supply of 5.4 months at the current sales rate, down from January.
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