Apr 17, 2025

New Home Sales

New Home Sales Rise in February Despite Price Declines

According to February 2025 data released by the Census Bureau, new home sales increased by 1.8% compared to the previous month and by 5.1% compared to the previous year. On a seasonally adjusted annual basis, new home sales totaled 676,000 units. The median number of months from completion to sale decreased from 3.0 months in January to 2.9 months in February.

Despite this increase in sales, the average sales price across the country was $487,100, while the median sales price was $414,500 in February 2025. The average price decreased by 4.5% compared to the previous month, while the year-over-year decline was 4.4%.

The number of new single-family homes (SFH) for sale slightly declined to 494,000 in February, while the number of homes under construction remained relatively stable. The most significant decrease in new SFH for sale was observed in the South.

Definition: The Monthly New Residential Sales report shows how many new single-family homes were sold, their prices, and the available inventory, giving insight into the housing market and economy.