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News : US Economy Last Updated: Feb 24, 2012 - 3:22 PM

Sales of new US homes fell in January
By Finfacts Team
Feb 24, 2012 - 3:19 PM

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Sales of new US homes fell in January as Americans opted to buy second-hand property.

Sales of new single-family houses in January 2012 were at a seasonally adjusted annual rate of 321,000, according to estimates released jointly today by the US Census Bureau and the Department of Housing and Urban Development.

This is 0.9% below the revised December rate of 324,000, but is 3.5% above the January 2011 estimate of 310,000.

The median sales price of new houses sold in January 2012 was $217,100; the average sales price was $261,600. The seasonally adjusted estimate of new houses for sale at the end of January was 151,000. This represents a supply of 5.6 months at the current sales rate.

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