New Home Sales Rise 7.9 Percent in January

New single-family home sales rose to a seasonally adjusted annual rate of 764,000 in January, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The January level is 7.9 percent above the revised December rate of 708,000, and is 18.6 percent above the January 2019 estimate.

The median price of a new home was $48,200. The average price was $402,300.

At the end of January, the seasonally adjusted estimated supply at the current sales rate was at 5.1 months.

Read the Census/HUD release.


About Author

Hugo Dante is an economist in Washington, D.C. He was previously an economic research specialist at ABA. In addition to the ABA Banking Journal, his writing has appeared in The Hill, The National Interest and Townhall. Views expressed here are his own.