The U.S. Federal Government announced that sales of new single-family houses in February 2017 were at a seasonally adjusted annual rate of 592k. This number is 6.1% above January’s revised rate and is 12.8% higher than February 2016. The median sales price of new houses sold in February 2017 was $296,200. The average sales price was $390,400. At the current sales rate there is an approximate supply of 5.4 months of homes on the market.
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