New Home Sales Fall Sharply

Sales of new single-family houses in the US shrank 11.4 percent to a seasonally adjusted annual rate of 481,000 units in March. It is the lowest figure in four months.

February's figure was revised up to 543,000 units from the previously reported 539,000 units.

In March, sales rose only in the Midwest by 5.9 percent and fell in the Northeast, South and West by 33.3 percent, 15.8 percent and 3.4 percent respectively. 

The median sales price of new houses sold in March 2015 was $277,400; the average sales price was $343,300. The seasonally adjusted estimate of new houses for sale at the end of March was 213,000. This represents a supply of 5.3 months at the current sales rate.

New Home Sales Fall Sharply

U.S. Census Bureau | Joana Taborda |
4/23/2015 3:11:34 PM