US New Home Sales at Near 1-Year High

Sales of new single-family houses in the United States rose 4.9 percent from the previous month to a seasonally adjusted annual rate of 667 thousand in February of 2019, following an upwardly revised 636 thousand in January and beating market expectations of 620 thousand. It is the highest reading since March of 2018 as sales increased in the Northeast, the Midwest and the South but were flat in the West.

January's figure was revised to 636 thousand units from 607 thousand previously estimated.

New home sales increased in the South (1.8 percent to 391 thousand), the Midwest (28.3 percent to 77 thousand) and the Northeast (26.9 percent to 33 thousand) but were flat at 166 thousand in the West. 

The median new house price rose to USD 315,300 in February from USD 303,900 in Jnauary but fell from USD 327,200 a year ago. The average sales price increased to USD 379,600 from USD 358,000 in January and USD 373,600 a year ago.

The stock of new houses for sale went down 0.6 percent to 340 thousand, the lowest in three months. This represents a supply of 6.1 months at the current sales rate, down from 6.5 months in January.

Year-on-year, new home sales went up 0.6 percent.

US New Home Sales at Near 1-Year High

US Census Bureau | Joana Taborda |
3/29/2019 2:15:55 PM