New Home Sales Down 2% in February

The U.S. Government is reporting that sales of new single-family houses in February, 2022 were at a seasonally adjusted annual rate of 772k, which is 2% lower than January’s revised rate and is 6.2% lower than one year ago.  The median sales price of new houses sold in February was $400,600 with an average sales price of $511k.  There were an estimated 407k new houses for sale at the end of February representing a 6.3-month supply at the current sales rate.Click here to read the full report at the U.S. Census Bureau.