New Home Sales Rose 8.8% in March

Washington, DC, April 23, 2024-Sales of new single‐family houses in March 2024 were at a seasonally adjusted annual rate of 693,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 8.8% above the revised February rate of 637,000 and 8.3 percent% above the March 2023 estimate of 640,000.

The median sales price of new houses sold in March 2024 was $430,700. The average sales price was $524,800.

The seasonally adjusted estimate of new houses for sale at the end of March was 477,000. This represents a supply of 8.3 months at the current sales rate.