Home sales rose in January, clocking in at the fastest pace since July 2008, offering hope that despite arctic winter temperatures, the market is still on the right track.
Sales of new single-family houses were at a seasonally adjusted annual rate of 468,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.6 percent (±17.9 percent) above the revised December rate of 427,000 and is 2.2 percent (±20.2 percent)* above the January 2013 estimate of 458,000.
The median sales price of new houses sold in January 2014 was $260,100; the average sales price was $322,800. The seasonally adjusted estimate of new houses for sale at the end of January was 184,000. This represents a supply of 4.7 months at the current sales rate.
For more information, visit http://www.census.gov.
Copyright© 2015 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com