Posted April 23, 2020

U.S. new home sales drop 15.4 percent month over month in March

Average selling price was $375,300.

April 23, 2020 ‐ 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 2020:

New Home Sales

Sales of new single‐family houses in March 2020 were at a seasonally adjusted annual rate of 627,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 15.4 percent (±14.8 percent) below the revised February rate of 741,000 and is 9.5 percent (±14.6 percent)* below the March 2019 estimate of 693,000.

Sales Price

The median sales price of new houses sold in March 2020 was $321,400. The average sales price was $375,300.

For Sale Inventory and Months’ Supply

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.