Pace of New Home Sales in the U.S. Ticks Up, Median Price SlipsApril 2, 2019
The pace of new single-family home sales in the U.S. ticked up 4.9 percent in February to a seasonally adjusted rate of 667,000 sales which is 0.6 percent above the pace of sales at the same time last year with a median sale price of $315,300, down 3.6 percent versus the same time last year but with an average sale price of $379,600 (which was 1.6 percent higher).
With the increase in pace, the inventory of new single-family homes for sale across the county slipped by 0.6 percent at the end of February to 340,000 but remains 13.9 percent higher versus the same time last year, representing 6.1 months of supply (versus 5.4 in February of 2018).
And out West, the seasonally adjusted pace of new single-family home sales totaled 166,000 in February, unchanged from the month before but 2.9 percent lower versus the same time last year with 20 percent more new homes, a total of 90,000, currently on the market.
Comments from Plugged-In Readers
SS, kudos on using a longer time series, and it’d be interesting to see what happens when you apply a log scale to the y-axis. Cheers.
Agreed! Great to have the perspective of long term data.
Comments are closed.