New single‐family houses in January 2024 rose 1.5% from December to an annual rate of 661,000 and is 1.8% above January 2023. The median sales price was $420,700, average sales price was $534,300. The supply of new homes on the market is 8.3 months at the current sales rate.
The takeaway... with the low supply of existing homes for sale on the market, a new home could be an alternative to the first-time buyer as well as those looking to upgrade or relocate as the spring buying season is unfolding.
