According to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new single-family houses in January 2011 were at a seasonally adjusted annual rate of 284,000.
This is 12.6 percent (Â±11.2%) below the revised December rate of 325,000 and is 18.6 percent (Â±15.4%) below the January 2010 estimate of 349,000.
The median sales price of new houses sold in January 2011 was $230,600; the average sales price was $260,300. The seasonally adjusted estimate of new houses for sale at the end of January was 188,000.
This represents a supply of 7.9 months at the current sales rate.