New homes sales rise in March
New single-family home sales rose in March to a seasonally adjusted annual rate of 692,000, up 4.5% from a revised February rate of 662,000, according to the latest report from the Commerce Department.
The latest number is also 3% above the March 2018 estimate of 672,000.
The median sales price of new houses sold in March was $302,700. The average sales price was $376,000. The seasonally‐adjusted estimate of new houses for sale at the end of March was 344,000, representing a 6-month supply at the current sales rate.
Regionally, new single-family home sales increased 17.6% in the Midwest, rose 6.7% in the West, and increased 3.6% in the South. Sales declined 22.2% in the Northeast.
Year-to-date, total sales are up 1.7% but down 17.6% in the Northeast and have declined 8.1% in the Midwest and 5.9% in the West. Sales in the south are up 9.6%, however.
On April 22, the National Association of Realtors reported that existing-home sales fell 4.9% in March to a seasonally adjusted rate of 5.21 million units.
The latest number is also 3% above the March 2018 estimate of 672,000.
The median sales price of new houses sold in March was $302,700. The average sales price was $376,000. The seasonally‐adjusted estimate of new houses for sale at the end of March was 344,000, representing a 6-month supply at the current sales rate.
Regionally, new single-family home sales increased 17.6% in the Midwest, rose 6.7% in the West, and increased 3.6% in the South. Sales declined 22.2% in the Northeast.
Year-to-date, total sales are up 1.7% but down 17.6% in the Northeast and have declined 8.1% in the Midwest and 5.9% in the West. Sales in the south are up 9.6%, however.
On April 22, the National Association of Realtors reported that existing-home sales fell 4.9% in March to a seasonally adjusted rate of 5.21 million units.