The U.S. Census Bureau said single-family new home sales rose by the strongest pace since November 2017, which at the time broke a multi-decade record.
New Home Sales
Sales of new single-family houses in March 2018 were at a seasonally adjusted annual rate of 694,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 4.0% (±18.6%)* above the revised February rate of 667,000 and is 8.8% (±17.0%)* above the March 2017 estimate of 638,000.
The median sales price of new houses sold in March 2018 was $337,200. The average sales price was $369,900.
For Sale Inventory and Months’ Supply
The seasonally-adjusted estimate of new houses for sale at the end of March was 301,000. This represents a supply of 5.2 months at the current sales rate.