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St Louis Real Estate Search

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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