Economy
February 27, 2014
New Home Sales up 9.6 Percent in January
Written by Sandy Williams
Sales of new single family homes rose 9.6 percent to a seasonally adjusted annual rate of 468,000 in January from a revised December rate of 427,000, according to data released by the US Census Bureau and US Department of Housing and Urban Development. The year-over-year increase of home sales was 2.2 percent above the January 2013 estimate of 458,000.
The January median sales price was $260,100 and the average sales price was $322,800. Inventory is still limited with the seasonally adjusted estimate of new houses for sale at the end of January at 184,000—a 4.7 month supply at the current sales rate.
