The U.S. Census Bureau and the Dept. of Housing and Urban Development jointly announced on Tuesday (4-26-22) that new residential single-family home sales for March 2022 were at a seasonally adjusted annual rate (SAAR) of 763,000, according to estimates. This is -8.6% below the revised February rate of 835,000 and is -12.6% below the March 2021 estimate of 873,000.
The median sales price of new houses sold in March was $436,700. The average sales price was $523,900.
The SAAR estimate of new houses for sale at the end of March was 407,000. This represents a supply of 6.4 months at the current sales rate.
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