A real estate sign advertising a new home for sale is pictured in Vienna, Virginia, outside of Washington, October 20, 2014. (Photo: Reuters)
The U.S. Census Bureau said single-family new home sales rose by the strongest pace since November 2017, which at the time broke a multi-decade record.
Sales of new single-family houses in March 2018 were at a seasonally adjusted annual rate of 694,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 4.0% (±18.6%)* above the revised February rate of 667,000 and is 8.8% (±17.0%)* above the March 2017 estimate of 638,000.
The median sales price of new houses sold in March 2018 was $337,200. The average sales price was $369,900.
The seasonally-adjusted estimate of new houses for sale at the end of March was 301,000. This represents a supply of 5.2 months at the current sales rate.
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Very strong indicator that growth will be sustained more than short term. Great... MAGA News.