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Market Update : 
New Home Sales Decrease 8.5% in March
Author: 123jump.com Staff
123jump.com
Last Update: 10:17 AM EDT April 24 2008


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Sales of new one-family houses in March 2008 were at a seasonally adjusted annual rate of 526,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8.5% below the revised February rate of 575,000 and is 36.6% below the March 2007 estimate of 830,000.

 
The following is the unedited transcript of the news release from the U.S. Department of Commerce.

Sales of new one-family houses in March 2008 were at a seasonally adjusted annual rate of 526,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8.5 percent (±16.1%) below the revised February rate of 575,000 and is 36.6 percent (±11.1%) below the March 2007 estimate of 830,000.


The median sales price of new houses sold in March 2008 was $227,600; the average sales price was $292,200. The seasonally adjusted estimate of new houses for sale at the end of March was 468,000. This represents a supply of 11.0 months at the current sales rate.


Available at:

http://www.census.gov/const/newressales.pdf
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