New home sales increase in February

Sales of new single‐family houses in February 2023 were at a seasonally adjusted annual rate of 640,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.  This is 1.1% above the revised January rate of 633,000 but is 19.0% below the February 2022 estimate of 790,000.

The median sales price of new houses sold in February 2023 was $438,200.  The average sales price was $498,700.

The seasonally‐adjusted estimate of new houses for sale at the end of February was 436,000.  This represents a supply of 8.2 months at the current sales rate.

Read the Census/HUD release.