New Home Sales Slipped 15.4% in March

Washington, DC, April 23, 2020-Sales of new single‐family houses in March 2020 were at a seasonally adjusted annual rate of 627,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. 

This is 15.4% below the revised February rate of 741,000 and is 9.5% below the March 2019 estimate of 693,000.

The median sales price of new houses sold in March 2020 was $321,400. The average sales price was $375,300.

The seasonally‐adjusted estimate of new houses for sale at the end of March was 333,000. This represents a supply of 6.4 months at the current sales rate.