March 2024 sees a rise in new home sales

In March, sales of new single-family homes rose by 8.8%, reaching a seasonally adjusted annual rate of 693,000. This represents an 8.3% increase from the previous year. The median sale price was $430,700, a slight decrease from last year despite a monthly rise. Regional sales varied, with significant increases in the Northeast, Midwest, and West, but a decline in the South.