U.S. Census Bureau: Monthly New Residential Sales, March 2024

Special notice: Beginning with the April 2024 New Residential Sales release on May 23, 2024, the sales price range groups in Table 2, “New Privately-Owned Houses Sold, by Sales Price” will be updated to better reflect the current distribution of new home prices. New price groupings will also be introduced in our time series file “New Houses Sold and For Sale by Price Range”. Example tables containing the new price groups are provided on our website. Data between January 2020 and March 2024 will be re-calculated incorporating any additional data and revisions received since initial publication and re- eleased in the new price groupings. Data from 2002-2019 will be archived in a time series file with the former price groupings. In addition, data in the “Quarterly Sales by Price and Financing”, the price index for “Quarterly Single-Family Houses Sold” and all tables containing historical median and average sales price data will be revised between January 2020 and March 2024.

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 2024:

New Home Sales

Sales of new single-family houses in March 2024 were at a seasonally adjusted annual rate of 693,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8.8 percent (±17.2 percent)* above the revised February rate of 637,000 and is 8.3 percent (±19.5 percent)* above the March 2023 estimate of 640,000.

Sales Price

The median sales price of new houses sold in March 2024 was $430,700. The average sales price was $524,800.

For Sale Inventory and Months’ Supply

The seasonally-adjusted estimate of new houses for sale at the end of March was 477,000. This represents a supply of 8.3 months at the current sales rate.

To view the full release click here.

The April report is scheduled for release on May 23, 2024. 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/ >.

Source: U.S. Census Bureau