U.S. Census Bureau: Monthly New Residential Sales, March 2023

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for March 2023:

New Home Sales

Sales of new single-family houses in March 2023 were at a seasonally adjusted annual rate of 683,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.   This is 9.6 percent (±15.2 percent)* above the revised February rate of 623,000, but is 3.4 percent (±12.7 percent)* below the March 2022 estimate of 707,000.

Sales Price

The median sales price of new houses sold in March 2023 was $449,800.  The average sales price was $562,400.

For Sale Inventory and Months’ Supply

The seasonally-adjusted estimate of new houses for sale at the end of March was 432,000. This represents a supply of 7.6 months at the current sales rate.

For the full March report, click here.

The April report is scheduled for release on May 23, 2023.  View the full schedule in the Economic Briefing Room: <www.census.gov/economic-indicators/>.  The full text and tables for this release can be found at <www.census.gov/construction/nrs/>.

*The 90 percent confidence interval includes zero. In such cases, there is insufficient statistical evidence to conclude that the actual change is different from zero.

Source: U.S. Census Bureau