New Home Sales Rose 7.4% in March

Washington, DC, April 23, 2025-Sales of new single-family houses in March 2025 were at a seasonally-adjusted annual rate of 724,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 7.4% above the February 2025 rate of 674,000, and 6.0% above the March 2024 rate of 683,000.

The seasonally adjusted estimate of new houses for sale at the end of March 2025 was 503,000. This is 0.6% above the February 2025 estimate of 500,000 and is 7.9% above the March 2024 estimate of 466,000.

This represents a supply of 8.3 months at the current sales rate. The months' supply is 6.7% below the February 2025 estimate of 8.9 months and is 1.2% above the March 2024 estimate of 8.2 months.

The median sales price of new houses sold in March 2025 was $403,600. This is 1.9% below the February 2025 price of $411,500, and is 7.5% below the March 2024 price of $436,400. The average sales price of new houses sold in March 2025 was $497,700. This is 1.0% above the February 2025 price of $492,700, and is 4.7% below the March 2024 price of $522,500.