US New Residential Single-Family Home Sales Increase 8.8% Month-Over-Month in March

On Tuesday, the US Census Bureau and Department of Housing and Urban Development jointly announced that new residential single-family home sales for March were at a seasonally adjusted annual rate (SAAR) of 693,000, according to estimates. This is 8.8% above the revised February rate of 637,000 and 8.3% above the March 2023 estimate of 640,000.

The median sales price of new houses sold in March was $430,700. The average sales price was $524,800.

The seasonally adjusted estimate of new houses for sale at the end of March was 477,000, an 8.3-month supply based on the current rate of sales.

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