New home sales increase in March

Sales of new single‐family houses in March 2023 were at a seasonally adjusted annual rate of 683,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.6% above the revised February rate of 623,000 but is 3.4% below the March 2022 estimate of 707,000.

The median sales price of new houses sold in March 2023 was $449,800.  The average sales price was $562,400.

The seasonally adjusted estimate of new houses for sale at the end of March was 432,000.  This represents a supply of 7.6 months at the current sales rate.


Read the Census/HUD release