New home sales cool for third-straight month

Sales of new single-family houses in February 2018 were at a seasonally adjusted annual rate of 618,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 0.6% below the revised January rate of 622,000, but is 0.5% above the February 2017 estimate of 615,000.

Continue Reading Below

Supply of homes at the current sales rate rose to 5.9 months, the highest since August.

The average sales price was $376,700 in February 2018.