US New Home Sales Jump 8.8% In March

New home sales in the US jumped 8.8% in March from the previous month, according to a report Tuesday by the Census Bureau and the Department of Housing and Urban Development.

Sales of new single‐family homes were at a seasonally adjusted annual rate of 693,000.

New home sales, which show the number of new single-family homes sold, were estimated to come in at 668,000 last month.

The figure for February was revised down from 662,000 to 637,000 for a monthly decline of 5.1%.

Annually, new home sales in March were 8.3% above the same month in 2023 when the figure stood at 640,000.

The median sale price of new homes sold was $430,700 in March, while the average price was $524,800. -