New Home Sales in U.S. During March Rise 7.5% Over Last Year

Residential News » North America Residential News Edition | By David Barley | April 24, 2012 11:10 AM ET

New-Home-Construction-2012.jpg According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), sales of new single-family houses in March 2012 were at a seasonally adjusted annual rate of 328,000.

This is 7.1 percent (±20.7%) below the revised February rate of 353,000, but is 7.5 percent (±19.6%) above the March 2011 estimate of 305,000.

The median sales price of new houses sold in March 2012 was $234,500; the average sales price was $291,200.  The seasonally adjusted estimate of new houses for sale at the end of March was 144,000.  This represents a supply of 5.3 months at the current sales rate.

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