New single-family homes sales rose to a seasonally adjusted annual rate of 724,000 according to the U.S. Census Bureau and the Department of Housing and Urban Development. The March reading was 7.4% above the revised February rate of 674,000 and is 6.0% above the March 2024 rate of 683,000.
The increase in new home sales was driven by growth in the South (13.6%), followed by the Midwest (3.0%), while the West fell by (-1.4%), and Northeast (-22.2%).
The median sales price of new houses sold in March 2025 was $403,600, down 1.9% from February 2025. The average sales price was $497,700, up 1.0% from the previous month.
At the end of February, the seasonally adjusted estimate of new houses for sale was 503,000, which represents a supply of 8.9 months at the current sales rate.
Read the Census/HUD release.
