Posted April 23, 2024

US New Home Sales rise 8.8% in March

Average selling price is $524,800.

New Home Sales
Sales of new single‐family houses in March 2024 were at a seasonally adjusted annual rate of 693,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8.8 percent (±17.2 percent)* above the revised February rate of 637,000 and is 8.3 percent (±19.5 percent)* above the March 2023 estimate of 640,000.

Sales Price
The median sales price of new houses sold in March 2024 was $430,700. The average sales price was $524,800.

For Sale Inventory and Months’ Supply
The seasonally‐adjusted estimate of new houses for sale at the end of March was 477,000. This represents a supply of 8.3 months at the current sales rate.