New home sales increases in January

Sales of new single‐family houses in January 2023 were at a seasonally adjusted annual rate of 670,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.2% above the revised December rate of 625,000, but is 19.4% below the January 2022 estimate of 831,000.

The median sales price of new houses sold in January 2023 was $427,500.  The average sales price was $474,400.

The seasonally adjusted estimate of new houses for sale at the end of January was 439,000.  This represents a supply of 7.9 months at the current sales rate.

Read the Census/HUD release.