Sales of new single-family houses in March were at a seasonally adjusted annual rate of 682,000, according to estimates released by the US Census Bureau and the Department of Housing and Urban Development. The activity for March was 7.4% above the February rate of 635,000 and 3.3% above the March 2025 rate of 660,000.
The seasonally adjusted estimate of new houses for sale at the end of March was 481,000, a mild 0.4% drop from February’s estimate of 483,000 and 4.6% below the March 2025 estimate of 504,000. This represents a supply of 8.5 months at the current sales rate.
The median sales price of new houses sold in March was $387,400, 5.3% decline from the February price of $409,000 and 6.25 below the March 2025 price of $412,900.
The average sales price of new houses sold in March was $503,100, down 3.4% from the February price of $521,000 and 1.2% lower than the March 2025 price of $509,200.
Pending sales are at the lowest point ever