New Home Sales HUD Releases Monthly Report
New Home Sales Report Is Out
HUD’s second report of the year for February 2016 has just been released and it shows that sales of new homes sold (new single-family) in the United States have a seasonally adjusted rate of 512,000, according to the U.S. Department of Housing and HUD. This translates to a 2% above the January rate of 502,00 homes sold. While we have a month to month increase it is still 6.1% lower than the February 2015 level of 545,000 homes.
The estimate of new homes sold is 240,000 at the end of the month (February) which translates to a 5.6 month supply at current sales. The average price of the new home sales is $348,900 and the median price is $301,400.
The U.S. Department for Housing and Urban Development offers a wide range of housing information at their website.
To visit this website click the link. Visit HUD here.