New Home Sales Decline 15.4 Percent in March

New single-family home sales fell to a seasonally adjusted annual rate of 627,000 in March, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The March level is 15.4 percent below the revised February rate of 741,000 and is 9.5 percent below the March 2019 estimate.

The median price of a new home was $321,400. The average price was $375,300.

At the end of March, the seasonally adjusted estimated supply at the current sales rate was at 6.4 months.

Read the Census/HUD release.

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About Author

Tyler Mondres

Tyler Mondres is senior manager for research at ABA and a frequent contributor on economic and fintech topics to the ABA Banking Journal.