U.S. New Home Sales Rise 9.6 Percent in March
Average selling price runs $562,400.
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 2023:
New Home Sales
Sales of new single‐family houses in March 2023 were at a seasonally adjusted annual rate of 683,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.6 percent (±15.2 percent)* above the revised February rate of 623,000, but is 3.4 percent (±12.7 percent)* below the March 2022 estimate of 707,000.
Sales Price
The median sales price of new houses sold in March 2023 was $449,800. The average sales price was $562,400.
For Sale Inventory and Months’ Supply
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 at the current sales rate.
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