New home sales in US rise 1.1% in February

New home sales in US rise 1.1% in February

Average sales price of new houses at $498,700 last month

By Ovunc Kutlu

ISTANBUL (AA) - New home sales in the US rose 1.1% in February compared to January, according to a report by the Census Bureau and the Department of Housing and Urban Development.

Sales of new single‐family homes in February were at a seasonally adjusted annual rate of 640,000, the report said Thursday.

New home sales, which show the number of new single-family homes sold, were estimated to come in at 650,000 last month. The figure for January was revised down to 633,000, from 670,000.

New home sales in February, however, are 19% below the same month of last year, when they stood at 790,000.

The median sales price of new houses sold in February 2023 was $438,200, while the average sales price was $498,700.

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