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HomeNewsEconomyNew Home Sales Surge By Strongest Pace Since November 2017

New Home Sales Surge By Strongest Pace Since November 2017

A real estate sign advertising a new home for sale is pictured in Vienna, Virginia, outside of Washington, October 20, 2014. (Photo: Reuters)
A real estate sign advertising a new home for sale is pictured in Vienna, Virginia, outside of Washington, October 20, 2014. (Photo: Reuters)

A real estate sign advertising a new home for sale is pictured in Vienna, Virginia, outside of Washington, October 20, 2014. (Photo: Reuters)

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.

Sales Price

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.

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PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

Latest comment

  • Very strong indicator that growth will be sustained more than short term. Great… MAGA News.

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