New-Home Sales Increased 1.5 Percent In January

The new-home market continues to run bright—even in the traditionally quiet winter. According to newly released figures from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, new-home sales were up 1.5 percent in January when compared to December. 

Sales of new single‐family houses in January 2024 were at a seasonally adjusted annual rate of 661,000.

The median sales price of new houses sold in January 2024 was $420,700.  The average sales price was $534,300. The seasonally‐adjusted estimate of new houses for sale at the end of January was 456,000.  This represents a supply of 8.3 months at the current sales rate.