New Home Sales Up 7.2% in January

The U.S. Government is reporting that sales of new single-family houses in January, 2023 were at a seasonally adjusted annual rate of 670k, which is 7.2% higher than December’s revised rate but is 19.4% lower than one year ago. The median sales price of new houses sold in January was $427,500 with an average sales price of $474,400. There were an estimated 439k new houses for sale at the end of January representing a 7.9-month supply at the current sales rate. Continue reading HERE...