The WPJ
Residential Real Estate News
New Home Sales Surged 26.9% in March
According to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new single-family houses in March 2010 were at a seasonally adjusted annual rate of 411,000.
This is 26.9 percent (±21.1%) above the revised February rate of 324,000 and is 23.8 percent (±18.7%) above the March 2009 estimate of 332,000.
The median sales price of new houses sold in March 2010 was $214,000; the average sales price was $258,600. The seasonally adjusted estimate of new houses for sale at the end of March was 228,000. This represents a supply of 6.7 months at the current sales rate.
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