New Home Sales Down 1.6% In February

Posted by Orb Staff on March 23, 2012 No Comments
Categories : Residential Mortgage

11162_homesale2 New Home Sales Down 1.6% In February Sales of new single-family houses in February were at a seasonally adjusted annual rate of 313,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 1.6% below the revised January rate of 318,000, but is 11.4% above the February 2011 estimate of 281,000.

The median sales price of new houses sold in February 2012 was $233,700; the average sales price was $267,700. The seasonally adjusted estimate of new houses for sale at the end of February was 150,000. This represents a supply of 5.8 months at the current sales rate.

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