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New Home Sales didn't Match February Pace

Thursday, April 23, 2015

New home sales settled down a bit in March after a dramatic surge in the Northeast in February that drove national sales figures up nearly 8 percent.  The Census Bureau and U.S. Department of Housing and Urban Development reported today that sales of newly constructed single family homes in March were at a seasonally adjusted annual rate of 481,000 units.  This was down 11.4 percent from February's sales, originally reported at 539,000 but revised even higher to 543,000 with today's report.

Sales for the month were up 19.4 percent compared to the same period in 2014.  The rate at that time was estimated at 403,000 units.

On a non-adjusted basis there were 45,000 new homes sold in March, unchanged from February.  Thirty-nine thousand homes sold during the month of March in 2014.


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