U.S. new home sales surge 5.8 percent in March
Average selling price is $388,200.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for March 2017:
New Home Sales
Sales of new single-family houses in March 2017 were at a seasonally adjusted annual rate of 621,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
This is 5.8 percent (±15.5 percent)* above the revised February rate of 587,000 and is 15.6 percent (±15.0 percent) above the March 2016 estimate of 537,000.
Sales Price
The median sales price of new houses sold in March 2017 was $315,100. The average sales price was $388,200.
For Sale Inventory and Months’ Supply
The seasonally-adjusted estimate of new houses for sale at the end of March was 268,000. This represents a supply of 5.2 months at the current sales rate.
CONTRACTOR SUPPLY MAGAZINE
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