Existing-home sales weren’t the only properties exchanging hands in big numbers last month. The U.S. Census Bureau has released February numbers which show sales were up for the third consecutive month.
The report found that sales of new single‐family houses in February 2023 were at a seasonally adjusted annual rate of 640,000. This is 1.1 percent above the revised January rate of 633,000, but is 19 percent below February 2022.
The median sales price of new houses sold last month was $438,200, while 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.