March Marks a Significant Uptick in New Home Sales

In an encouraging sign for the US economy, new single-family home sales witnessed a 7.4% increase in March compared to February, reaching a total of 724,000 units, as reported by the Census Bureau. This growth not only highlights a month-over-month improvement but also a 6% rise from the same period last year.

Inventory and Pricing Trends

The end of March saw 503,000 new houses available for sale, marking a slight 0.6% increase from February and a 7.9% jump year-over-year. This inventory level suggests an 8.3-month supply at the current sales pace. Meanwhile, the median sale price experienced a dip, standing at $403,600, which is 1.9% lower than February and 7.5% less than March 2025.