New Home Sales Slip but Prices at Seven Month High

Posted To: MND NewsWire

New home sales in February were down 1.6 percent from sales in January according to the U.S. Census Bureau and the Department of Housing and Urban Development. Sales were estimated at a seasonally adjusted annual rate of 313,000 in February down from 318,000 in January. The January figures provided today were revised from the 321,000 originally reported. Despite the decrease, sales in February were still 11.4 percent above the rate in February 2011. The median price of homes sold in February was $233,700 and the average price was $267,700 the highest for both figures since June, 2011. In January the median was $215,700 and the average $261,900 and one year earlier those figures were $220,100 and $262,800. There were an estimated 150,000 newly constructed homes for sale nationwide at the end…(read more)

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