Sales of new, single-family homes decreased by 4.4 percent to a seasonally adjusted annual rate of 765,000 from January to February, according to data released on Tuesday by the U.S. Census Bureau and the Department of Housing and Urban Development.
However, that rate is 14.3 percent higher than the February 2019 estimate of 669,000 sales. In the Census Bureau’s January report, sales had risen from December by a whopping 7.9 percent.
Census Bureau
The median sales price in February 2020 was $345,900 — a slight decrease from January 2020’s median sales price of $348,200.
The number of new homes for sale on the market at the end of February 2020 was 319,000, which allows for a 5.0-month supply at the current rate of sales.