Sales of new single‐family houses during February were at a seasonally adjusted annual rate of 662,000, according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development. Last month’s activity was 0.3% below the revised January rate of 664,000, but it was also 5.9% above the February 2023 estimate of 625,000.
The median sales price of new houses sold in February was $400,500 while the average sales price was $485,000.
The seasonally adjusted estimate of new houses for sale at the end of February was 463,000, which represents a supply of 8.4 months at the current sales rate.
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