New Home Sales Increase to 724,000 Annual Rate in March
The Census Bureau reports New Home Sales in March were at a seasonally adjusted annual rate (SAAR) of 724 thousand. The previous three months were revised down, combined. Sales of new single-family houses in March 2025 were at a seasonally-adjusted annual rate of 724,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.4 percent above the February 2025 rate of 674,000, and is 6.0 percent above the March 2024 rate of 683,000. emphasis added Click on graph for larger image. The first graph shows New Home Sales vs. recessions since 1963. The dashed line is the current sales rate. New home sales were above pre-pandemic levels. The second graph shows New Home Months of Supply. The months of supply decreased in March to 8.3 months from 8.9 months in February. The all-time record high was 12.2 months of supply in January 2009. The all-time record low was 3.3 months in August 2020. This is well above the top of the normal range (about 4 to 6 months of supply is normal). "The seasonally-adjusted estimate of new houses for sale at the end of March 2025 was 503,000. This is 0.6 percent above the February 2025 estimate of 500,000, and is 7.9 percent above the March 2024 estimate of 466,000. This represents a supply of 8.3 months at the current sales rate. The months' supply is 6.7 percent below the February 2025 estimate of 8.9 months, and is 1.2 percent above the March 2024 estimate of 8.2 months." Sales were above expectations of 680 thousand SAAR, however sales for the three previous months were revised down, combined. I'll have more later today.
The Census Bureau reports New Home Sales in March were at a seasonally adjusted annual rate (SAAR) of 724 thousand.
The previous three months were revised down, combined.
Click on graph for larger image.
The first graph shows New Home Sales vs. recessions since 1963. The dashed line is the current sales rate.
New home sales were above pre-pandemic levels.
The second graph shows New Home Months of Supply.
The months of supply decreased in March to 8.3 months from 8.9 months in February.
The all-time record high was 12.2 months of supply in January 2009. The all-time record low was 3.3 months in August 2020.
This is well above the top of the normal range (about 4 to 6 months of supply is normal).
The previous three months were revised down, combined.
Sales of new single-family houses in March 2025 were at a seasonally-adjusted annual rate of 724,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.4 percent above the February 2025 rate of 674,000, and is 6.0 percent above the March 2024 rate of 683,000.
emphasis added
Click on graph for larger image.The first graph shows New Home Sales vs. recessions since 1963. The dashed line is the current sales rate.
New home sales were above pre-pandemic levels.
The second graph shows New Home Months of Supply.
The months of supply decreased in March to 8.3 months from 8.9 months in February. The all-time record high was 12.2 months of supply in January 2009. The all-time record low was 3.3 months in August 2020.
This is well above the top of the normal range (about 4 to 6 months of supply is normal).
"The seasonally-adjusted estimate of new houses for sale at the end of March 2025 was 503,000. This is 0.6 percent above the February 2025 estimate of 500,000, and is 7.9 percent above the March 2024 estimate of 466,000.Sales were above expectations of 680 thousand SAAR, however sales for the three previous months were revised down, combined. I'll have more later today.
This represents a supply of 8.3 months at the current sales rate. The months' supply is 6.7 percent below the February 2025 estimate of 8.9 months, and is 1.2 percent above the March 2024 estimate of 8.2 months."
