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Wednesday, December 11, 2019
HomeNewsEconomyNew Home Sales Post Solid Gains in February

New Home Sales Post Solid Gains in February

A real estate sign advertising a new home for sale is pictured in Vienna, Virginia, outside of Washington, October 20, 2014. (Photo: Reuters)
A view of a house for sale is seen in Los Angeles on February 24, 2010. (Photo: Reuters)

A view of a house for sale is seen in Los Angeles on February 24, 2010. (Photo: Reuters)

The U.S. Census Bureau and Department of Housing and Urban Development (HUD) said new home sales in February were at an estimated seasonally adjusted annual rate of 618,000. This is 0.6% (±13.3%)* below the revised January rate of 622,000, but is 0.5% (±16.6%)* above the February 2017 estimate of 615,000.

Sales Price

The median sales price of new houses sold in February 2018 was $326,800. The average sales price was $376,700.

For Sale Inventory and Months’ Supply

The seasonally-adjusted estimate of new houses for sale at the end of February was 305,000. This represents a supply of 5.9 months at the current sales rate.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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