United States New Home Sales

Sales of new single-family homes in the U.S. rose 1.8% to a seasonally adjusted annual rate of 676,000 in February 2025, partially recovering from a revised 6.9% drop in January but falling just short of market expectations of 680,000. Warmer weather and easing mortgage rates encouraged some buyers back into the market, but sales are expected to remain under pressure amid ongoing economic uncertainty. Regionally, sales fell in the West (-13.6% to 140,000) and Northeast (-21.4% to 22,000) but rose in the South (6.6% to 438,000) and Midwest (20.6% to 76,000). The median home price stood at $414,500, with an average price of $487,100. Meanwhile, housing inventory remained elevated at 500,000 units, representing 8.9 months of supply at the current sales pace.