The U.S. Census Bureau and the U.S. Department of Housing and Urban Development are reporting that the sales of new single‐family houses in March 2020 were at a seasonally adjusted annual rate of 627,000. 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 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.
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