NEW RESIDENTIAL SALES IN FEBRUARY

NEW RESIDENTIAL SALES IN FEBRUARY 2011Sales of new single-family houses in February 2011 were at a seasonally adjusted annual rate of 250,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.  This is 16.9 This is 16 9 percent (±19 1%) percent (±19.1%)** below the revised January rate of 301,000 below the revised January rate of 301 000 and is 28 0 percent (±14 8%) below the and is 28.0 percent (±14.8%) below theFebruary 2010 estimate of 347,000.The median sales price of new houses sold in February 2011 was $202,100; the average sales price was $246,000.  The seasonally adjusted estimate of new houses for sale at the end of February was 186,000.  This represents a supply of 8.9 months at the current sales rate