The WPJ
Residential Real Estate News
New Home Sales in U.S. Jump 11% in March, Prices Still Down
According to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD), sales of new single-family houses in March 2011 were at a seasonally adjusted annual rate of 300,000.
This is 11.1 percent (±21.7%) above the revised February rate of 270,000, but is 21.9 percent (±10.3%) below the March 2010 estimate of 384,000.
The median sales price of new houses sold in March 2011 was $213,800; the average sales price was $246,800.
The seasonally adjusted estimate of new houses for sale at the end of March was 183,000. This represents a supply of 7.3 months at the current sales rate.
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