555,000 New Homes Sold in January

Feb 24, 2017

This year’s housing market is starting off on a strong lead, according to new data released by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD).

There were 555,000 new single-family houses sold in January, which is 3.7 percent above the revised December rate of 535,000. Last month’s sales rate is also 5.5 percent above the January 2016 estimate of 526,000.

The median sales price of new houses sold in January was $312,900 while the average sales price was $360,900. The seasonally-adjusted estimate of new houses for sale at the end of January was 265,000, which represents a supply of 5.7 months at the current sales rate.

About the author

Phil Hall

Link copied

Published

Feb 24, 2017

Industry News

UWM, UMortgage Under Attack For Alleged Shell Scheme

A report released on April 25 by the hedge-funded media company alleges UWM set up a shell company, UMortgage.

Just weeks after allegations against United Wholesale Mortgage (UWM) were published in an exposé-style report and a class action lawsuit, Hunterbrook Media is once again putting the Michigan lender under the spotlight. On Thursday, the hedge-funded media company published...

Analysis and Data

Homebuying Excitement Is Up Among Veterans

Survey results indicate optimism about housing market among U.S. veterans and service members

Our nation’s heroes are increasingly optimistic about buying homes, new research indicates. The amount of veterans and service members who plan to purchase a home in the next six months was up by 15 percentage points year-over-year, according to the Veterans Homebuying Re...