US New Home Sales Beat Forecasts

Sales of new single-family houses in the United States rose 4 percent from the previous month to a seasonally adjusted annual rate of 694 thousand in March 2018, easily beating market consensus of 625 thousand.

New privately-owned houses sold in the West soared 28.3 percent to 222 thousand, their highest level since December 2006, and those sold in the South advanced 0.8 percent to 371 thousand. By contrast, new home sales fell sharply in the Northeast (-54.8 percent to 19 thuosand) and in the Midwest (-2.4 percent to 82 thousand).

The median sales price of new houses sold in March was USD 337,200, above USD 321,700 in the same month of the previous year. The average sales price, however, fell to USD 369,900 in March from USD 384,400 a year ago. 

The stock of new houses for sale was unchanged at 301 thousand in March. This represents a supply of 5.2 months at the current sales rate.

Year-on-year, new home sales surged 8.8 percent.

US New Home Sales Beat Forecasts

US Census Bureau | Joana Ferreira |
4/24/2018 3:00:37 PM