US New Home Sales Experience Growth

According to the latest report from the Census Bureau and the Department of Housing and Urban Development, sales of new single-family houses in the United States reached a seasonally adjusted annual rate of 676,000 in February. This marks a 1.8% increase from the previous month and a 5.1% rise compared to the same period last year.

Price Trends and Inventory

The median sales price of new houses was valued at $414,500, with the average sales price standing at $487,100. The seasonally-adjusted estimate of new houses for sale in February was 500,000, indicating a supply of 8.9 months at the current sales rate.