March New Single-Family Home Sales Down 1.5%, but Up 5.4% YOY

Washington, DC, April 25, 2016--Sales of new single-family houses in March 2016 were at a seasonally adjusted annual rate of 511,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 1.5% below the revised February rate of 519,000 but 5.4% above the March 2015 estimate of 485,000.

The median sales price of new houses sold in March 2016 was $288,000; the average sales price was $356,200. The seasonally adjusted estimate of new houses for sale at the end of March was 246,000. This represents a supply of 5.8 months at the current sales rate.