New home sales in January 2009 fell 10.2% from the prior month and declined 48.2% from the prior year, to 309,000, the Commerce Department reported today. This is 10.2 percent below the revised December rate of 344,000 and is 48.2 percent below the January 2008 estimate of 597,000.
The median sales price of new houses sold in January 2009 was $201,100; the average sales price was $234,600. The seasonally adjusted estimate of new houses for sale at the end of January was 342,000. This represents a supply of 13.3 months at the current sales rate.