New Home Sales On The Rise While Inventory is Low

new home salesNew home sales continued the upward trend in March with new homes in the US selling at a  seasonally-adjusted annual rate of 417,000 homes, an increase of 1.5 percent from the month before and an 18.5 percent increase from a year ago, according to the US Census Bureau and HUD.

New home sale prices declined in March to a median price of $247,000, down 6.7 percent from February’s median new home price of $264,900 but up 3 percent from a year ago when the median new home sales price was $239,800.  The inventory of new homes for sale remained steady with a 4.4 month supply, the same as the month before but down from a 4.9 month supply a year ago.

 

 

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