Sales of new single-family homes in the United States plunged 18.2% in February, according to data released by the census bureau and housing department.
- Sales were at a seasonally adjusted annual rate of 775,000, falling below the January rate of 948,000. This is 8.2% higher than the seasonally adjusted sales of 716,000 in February 2020.
- New houses for sale in February were recorded at 312,000, versus 327,000 in February 2020.
- The median sales price last month was recorded at $349,000, and the average sales price at $416,000.
- The survey is primarily based on a sample of houses selected from building permits. A “sale” is defined as a deposit taken or sales agreement signed, which can occur prior to a permit issuance.