Posted April 26, 2023

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.