by Calculated Risk on 3/24/2005 10:38:00 AM

According to a Census Bureau report, New Home Sales rebounded in February to a seasonally adjust annual rate of 1.126 million.

Sales of new one-family houses in February 2005 were at a seasonally adjusted annual rate of 1,226,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.4 percent (±14.7%)* above the revised January rate of 1,121,000 and is 5.2 percent (±13.3%)* above the February 2004 estimate of 1,165,000.

The median sales price of new houses sold in February 2005 was $230,700; the average sales price was $288,400. The seasonally adjusted estimate of new houses for sale at the end of February was 444,000. This represents a supply of 4.4 months at the current sales rate.

Click on Graph for larger image.

The New Home Sales report shows no sign of a slowdown.