Market Updates
New Home Sales Rebounded In January
Brian Turner
24 Feb, 2023
New York City
The sale of single-family new homes increased 7.2% from the previous month in January to a seasonally adjusted annual rate of 670,000, the U.S. Census Bureau and Department of Housing and Urban Development reported Friday.
Home sales declined 19.4% from a year ago in January.
The median sales price of new houses sold in January was $427,500, lower than $430,000 a year ago and the average sales price was $474,400, lower than $501,200 a year ago.
The seasonally‐adjusted estimate of new homes for sale at the end of January was 439,000, representing a supply of 7.9 months at the current sales rate.
About 59,000 homes were sold in January compared to 47,000 in December, driven by the increase of 11,000 in the South to 41,000.
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