Wednesday, March 26, 2008

New Home Sales

Still flat. (.pdf)

Sales of new one-family houses in February 2008 were at a seasonally adjusted annual rate of 590,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 1.8 percent (±15.0%)* below the revised January rate of 601,000 and is 29.8 percent (±9.6%) below the February 2007 estimate of 840,000.

The median sales price of new houses sold in February 2008 was $244,100; the average sales price was $296,400. The seasonally adjusted estimate of new houses for sale at the end of February was 471,000. This represents a supply of 9.8 months at the current sales rate.