US New Home Sales Experience Growth

In a promising sign for the economy, sales of new single-family houses in the United States reached a seasonally adjusted annual rate of 676,000 in February. This data, released by the Census Bureau and the Department of Housing and Urban Development, highlights a resilient housing market.

Month-on-Month and Year-on-Year Growth

The report reveals a 1.8% increase from the previous month and a significant 5.1% rise compared to the same period last year, underscoring the sustained demand for new homes.

Sales Prices and Inventory Levels

The median sales price of new houses was reported at $414,500, with the average sales price slightly higher at $487,100. Additionally, the seasonally-adjusted estimate of new houses for sale stood at 500,000, indicating a supply of 8.9 months at the current sales rate.