New Residential Sales See Big Increase in March

 

During the past month the Northeast was the region that fared the best with an increase of sales of 35.5 percent. From March 2009 to March 2010, the region increased 100 percent. The Midwest fared the poorest, with an increase of 4.3 percent over the past month and increase of 11.4 percent during the past year.

Sales of new single-family houses in March 2010 were at a seasonally adjusted annual rate of 411,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 26.9 percent (???????(R)???????+???????(R)??????oe???????(R)???????+???????(R)????????21.1%) above the revised February rate of 324,000 and is 23.8 percent (???????(R)???????+???????(R)??????oe???????(R)???????+???????(R)????????18.7%) above the March 2009 estimate of 332,000.

The median sales price of new houses sold in March 2010 was $214,000; the average sales price was $258,600. The seasonally adjusted estimate of new houses for sale at the end of March was 228,000. This represents a supply of 6.7 months at the current sales rate. - Courtesy of Economics and Statistics Administration