February sees a slight dip in US single-family home sales, but the yearly trend is up

Posted on April 1, 2024   |  

In February, new residential single-family home sales reached a seasonally adjusted annual rate of 662,000.

This figure represents a slight 0.3% decline from the revised January rate of 664,000 but marks a 5.9% increase from February 2023's estimate of 625,000.

The median sales price for new homes sold in February was $400,500, while the average sales price was $485,000.

By the end of February, there were 463,000 new houses for sale, with a supply of 8.4 months based on the current sales rate.