News Column

New Home Sales in February Beat Estimates

March 26, 2013

Staff --

Hispanic couple buying a house

February sales of new single-family homes reached a seasonally adjusted annual rate of 411,000, according to estimates released today by the Census Bureau and the Dept. of Housing and Urban Development.

The estimate is 4.6 percent under the revised January rate of 431,000, but 12.3 percent above the February 2012 estimate of 366,000.

The median price of a new house in February 2013 was $246,800, and the average price stood at $313,700. Inventory was estimated at 152,000 at the end of February, representing a supply of 4.4 months at the present sales rate.

The largest number of homes sold in February were in the South and West, at 186,000 and 141,000 respectively.

The full report is available here (PDF).

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Source: (c) 2013. All rights reserved.

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