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U.S.Economy: 
New Home Sales Decrease 1.8% in February
Author: 123jump.com Staff
123jump.com
Last Update: 10:13 AM EDT March 26 2008

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Sales of new one-family houses in February 2008 were at a seasonally adjusted annual rate of 590,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 1.8% below the revised January rate of 601,000 and is 29.8% below the February 2007 estimate of 840,000.

 
The following is the unedited transcript of the news release from the U.S. Department of Commerce.


Sales of new one-family houses in February 2008 were at a seasonally adjusted annual rate of 590,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 1.8 percent (±15.0%)* below the revised January rate of 601,000 and is 29.8 percent (±9.6%) below the February 2007 estimate of 840,000.

The median sales price of new houses sold in February 2008 was $244,100; the average sales price was $296,400. The seasonally adjusted estimate of new houses for sale at the end of February was 471,000. This represents a supply of 9.8 months at the current sales rate.


Available at:

http://www.census.gov/const/newressales.pdf
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