New Home Sales Fall in February

New single-family home sales fell to a seasonally adjusted annual rate of 772,000 in February, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The February level is 2.0% below the revised January rate of 888,000 and is 6.2% below the February 2021 estimate of 823,000.

The median sales price of new houses sold in February 2022 was $400,600. The average sales price was $511,000.

At the end of January, the seasonally adjusted estimated supply at the current sales rate was at 6.3 months.

Read the Census/HUD release.