New Residential Sales Stats for March Released

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for March 2022:

New Home Sales

Sales of new single‐family houses in March 2022 were at a seasonally adjusted annual rate of 763,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8.6 percent (±12.9 percent)* below the revised February rate of 835,000 and is 12.6 percent (±11. 3 percent)* below the March 2021 estimate of 873,000.

Sales Price

The median sales price of new houses sold in March 2022 was $436,700. The average sales price was $523,900.

For Sale Inventory and Months’ Supply

The seasonally‐adjusted estimate of new houses for sale at the end of March was 407,000. This represents a supply of 6.4 months at the current sales rate.