HUD and Census Bureau Report New Residential Sales in January 2025

This post was originally published by the Department of Housing and Urban Development.

HUD and Census Bureau Report New Residential Sales in January 2025

WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for January 2025:

New Home Sales
Sales of new single-family houses in January 2025 were at a seasonally adjusted annual rate of 657,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 10.5 percent (±19.9 percent)* below the revised December 2024 rate of 734,000 and is 1.1 percent (±15.3 percent)* below the January 2024 estimate of 664,000.

Sales Price
The median sales price of new houses sold in January 2025 was $446,300. This is 7.5 percent (±12.5 percent)* above the December 2024 median sales price of $415,000 and 3.7 percent (±11.4 percent)* above the January 2024 median sales price of $430,400. The average sales price of new houses sold in January 2025 was $510,000. This is 0.1 percent (± 9.2 percent)* above the December 2024 average sales price of $509,700 and is 3.4 percent (± 8.6 percent)* below the January 2024 average sales price of $527,800.”

For Sale Inventory and Months’ Supply
The seasonally-adjusted estimate of new houses for sale at the end of January was 495,000. This is 1.4 percent (± 1.8 percent)* above the December 2024 estimate of 488,000 and is 7.4 percent (± 5.2 percent) above the January 2024 estimate of new houses for sale 461,000. This represents a supply of 9.0 months at the current sales rate. This is 12.5 percent (±20.7 percent)* above the December 2024 estimate of 8.0 months, and 8.4 percent (± 19.0 percent)* above the January 2024 estimate of 8.3 months.”

The February report is scheduled for release on March 25, 2025. View the full schedule in the Economic Briefing Room. The full text and tables for this release can be found at www.census.gov/construction/nrs/index.html

EXPLANATORY NOTES These statistics are estimated from sample surveys. They are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting, and undercoverage. Estimated average relative standard errors of the preliminary data are shown in the tables. Whenever a statement such as “2.5 percent (±3.2%) above” appears in the text, this indicates the range (-0.7 to +5.7 percent) in which the actual percent change is likely to have occurred. All ranges given for percent changes are 90-percent confidence intervals and account only for sampling variability. If a range does not contain zero, the change is statistically significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease. The same policies apply to the confidence intervals for percent changes shown in the tables. Changes in seasonally adjusted statistics often show irregular movement. It takes 3 months to establish a trend for new houses sold. Preliminary new home sales figures are subject to revision due to the survey methodology and definitions used. The survey is primarily based on a sample of houses selected from building permits. Since a “sale” is defined as a deposit taken or sales agreement signed, this can occur prior to a permit being issued. An estimate of these prior sales is included in the sales figure. On average, the preliminary seasonally adjusted estimate of total sales is revised about 3.6 percent. Changes in sales price data reflect changes in the distribution of houses by region, size, etc., as well as changes in the prices of houses with identical characteristics. Explanations of confidence intervals and sampling variability can be found at the Census Bureau’s website.

The Census Bureau has reviewed SOC monthly and quarterly tables to ensure appropriate access, use, and disclosure avoidance protection of the confidential source data (Disclosure Review Board (DRB) approval number: CBDRBFY24-0281).

API
The Census Bureau’s application programming interface lets developers create custom apps to reach new users and makes key demographic, socio-economic and housing statistics more accessible than ever before. https://www.census.gov/data/developers.html

FRED Mobile App

Receive the latest updates on the nation’s key economic indicators by downloading the FRED App both Apple and Android devices. FRED, the signature database of the Federal Reserve Bank of St. Louis, now incorporates the Census Bureau’s 13 economic indicators.

* The 90 percent confidence interval includes zero. In such cases, there is insufficient statistical evidence to conclude that the actual change is different from zero.