New Home Sales Rose 8.8% YOY in March

Washington, DC, April 24, 2018-Sales of new single-family houses in March 2018 were at a seasonally adjusted annual rate of 694,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 4.0% above the revised February rate of 667,000 and is 8.8% above the March 2017 estimate of 638,000.

The median sales price of new houses sold in March 2018 was $337,200. The average sales price was $369,900.

The seasonally-adjusted estimate of new houses for sale at the end of March was 301,000. This represents a supply of 5.2 months at the current sales rate.