Sales of new single‐family houses in March 2020 dropped 15.4% to a seasonally adjusted annual rate of 627,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. The pace was 9.5% below the March 2019 estimate of 693,000.
Analysts were expecting an annual pace of 628,000.
The median sales price of new houses sold in March 2020 was $321,400. The average sales price was $375,300, both down from the prior month but still ahead of a year earlier.
The seasonally‐adjusted estimate of new houses for sale at the end of March was 333,000. This represents a supply of 6.4 months at the current sales rate.
