New home sales are up in February

April 5, 2019 12:37 pm

New home sales are up in February by 4.9%, new figures show.

There were 667,000, new Single-Family Home sales in the United States in February 2019. That is according to new figures from the U.S. Census Bureau and the Bureau and the U.S. Department of Housing and Urban Development.

That is 4.6% above the January revised rate of 636,000 and 0.6% above the February 2018 estimate of 663,000.

New-home sales rose 2.8% year-over-year in the first two months of 2019.

The median sales price was $315,300, down 3.6%, and the average sales value was $379,600.

Supply was higher in February. The seasonally‐adjusted estimate of new houses for sale at the end of February was 340,000.  This represents a supply of 6.1 months at the current sales rate.

The number of new houses bought by entry-level buyers was at 35%. This is 4% higher than a year ago.

Source: https://www.census.gov/construction/nrs/pdf/newressales.pdf