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New Home Sales in February at annual rate of 250,000
Sales of new single-family houses in February 2011 were at a seasonally adjusted annual rate of 250,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 16.9 percent (±19 1%) below the revised January rate of 301 000 and is 28.0 percent (±14 8%) below the February 2010 estimate of 347,000.
The median sales price of new houses sold in February 2011 was $202,100; the average sales price was $246,000. The seasonally adjusted estimate of new houses for sale at the end of February was 186,000. This represents a supply of 8.9 months at the current sales rate.
Posted: March 23, 2011 Wednesday 10:00 AM