New Home Sales Rose 9.6% in March

Washington, DC, April 25, 2023-Sales of new single‐family houses in March 2023 were at a seasonally adjusted annual rate of 683,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 9.6% above the revised February rate of 623,000 but 3.4% below the March 2022 estimate of 707,000.

The median sales price of new houses sold in March 2023 was $449,800. The average sales price was $562,400.

The seasonally adjusted estimate of new houses for sale at the end of March was 432,000. This represents a supply of 7.6 months at the current sales rate.