Sales of new single-family houses in January 2018 were at a seasonally adjusted annual rate of 593,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.8% below the revised December rate of 643,000 and is 1.0%below the January 2017 estimate of 599,000. And we need this number ABOVE 1 million!
The median sales price of new houses sold in January 2018 was $323,000 and the average sales price was $382,700. Nationally, builders have 6.1 months of supply of new homes for sale. While locally builders only have about a 1 month supply of new homes for sale. It would be awesome if the national builders could move some crews to Denver from areas where supply is outstripping demand.