Comments on: New Home Sales Hold Steady in February https://eyeonhousing.org/2024/03/new-home-sales-hold-steady-in-february/ National Association of Home Builders Discusses Economics and Housing Policy Mon, 25 Mar 2024 18:17:19 +0000 hourly 1 By: Jason Walter https://eyeonhousing.org/2024/03/new-home-sales-hold-steady-in-february/#comment-2235137 Mon, 25 Mar 2024 18:17:19 +0000 https://eyeonhousing.org/?p=34976#comment-2235137 My biggest takeaway based on my own analysis of the Census’ data:
1. The median sold price fell to the lowest level since June 2021 (nearly a 3yr low) and down 19% from the peak set in Oct 2022 ($497k). The decrease in prices is partially from rise of inventory, increase in mortgage rates this February and mix in sales (lower share of sales in the range of $500k-749k and higher share of sales less than $400k compared to Feb 2023).

2. Completed homes for sale rising to 85k. That’s the highest level seen since Sept 2010!

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