New Home Sales highest since 2007
New home sales (single family) sales increased 12.2% in 2016 to 563,000 units, according to data released by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. A 5.8 month supply of homes (259,000 units) is currently in inventory. The median sales price of new houses sold was $322,500. The National Association of Home Builders reports high builder confidence for not just new housing in 2017, but in remodeling also.