US New Residential Home Sales Rise 9.6% Month-Over-Month in March

Posted on April 25, 2023

The US Census Bureau and the Department of Housing and Urban Development jointly announced that new residential single-family home sales for March were at a SAAR of 683,000, according to estimates. This is 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 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 based on the current rate of sales.

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