Single-family New Home Sales Rise

Sales of new single-family houses in March 2013 were at a seasonally adjusted annual rate of 417,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 1.5 percent (±16.9 percent) above the revised February rate of 411,000 and is 18.5 percent (±17.2 percent) above the March 2012 estimate of 352,000.

The median sales price of new houses sold in March 2013 was $247,000; the average sales price was $279,900. The seasonally adjusted estimate of new houses for sale at the end of March was 153,000. This represents a supply of 4.4 months at the current sales rate.