• Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
  • PRODUCTS
  • A&D
  • INSTALLATION
  • MARKETS
  • AWARDS
  • EDUCATION
  • BUYER'S GUIDE
  • MEDIA
  • EMAGAZINE
  • SIGN UP
cart
facebook twitter linkedin youtube
  • NEWS
  • Breaking Flooring News
  • eNewsletters
  • PRODUCTS
  • Carpet & Area Rugs
  • Hardwood
  • Installation Products
  • Installation Tools & Equipment
  • Laminate
  • Resilient
  • Specialty
  • Tile & Stone
  • MARKETS
  • Commercial
  • Residential
  • AWARDS
  • Installation Awards
  • Top Flooring Products
  • EDUCATION
  • Continuing Education
  • Webinars
  • MEDIA
  • FLOOR Podcast
  • Videos
  • TISE 2025 Videos
  • Product Spotlights
  • eBooks
  • EMAGAZINE
  • eMagazine
  • Archive Issues
  • Contact
  • Advertise
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
    • Breaking Flooring News
    • eNewsletters
  • PRODUCTS
    • Carpet & Area Rugs
    • Hardwood
    • Installation Products
    • Installation Tools & Equipment
    • Laminate
    • Resilient
    • Specialty
    • Tile & Stone
  • A&D
  • INSTALLATION
  • MARKETS
    • Commercial
    • Residential
  • AWARDS
    • Installation Awards
    • Top Flooring Products
  • EDUCATION
    • Continuing Education
    • Webinars
  • BUYER'S GUIDE
  • MEDIA
    • FLOOR Podcast
    • Videos
    • TISE 2025 Videos
    • Product Spotlights
    • eBooks
  • EMAGAZINE
    • eMagazine
    • Archive Issues
    • Contact
    • Advertise
  • SIGN UP
Breaking Flooring NewsResidential Flooring

New Home Sales Fall in March Amid Virus Concerns

NAHB
April 23, 2020

Sales of newly built, single-family homes fell 15.4 percent to a seasonally adjusted annual rate of 627,000 units in March, coming off a downward revision in February, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The March rate is 9.5 percent lower than the March 2019 pace.

"Despite the sharp decline in new home sales this month, the first quarter of 2020 was actually 6.7 percent higher than the same period last year, reflecting a strong pace prior to the virus outbreak," said Dean Mon, chairman of the National Association of Home Builders (NAHB) and a home builder and developer from Shrewsbury, N.J. "While we expect to see some further impacts to the industry, we remain confident that housing will be a sector that will help lead the economic recovery."

A new home sale occurs when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. In addition to adjusting for seasonal effects, the March reading of 627,000 units is the number of homes that would sell if this pace continued for the next 12 months.

Inventory rose to a 6.4 months' supply, with 333,000 new single-family homes for sale, 1.2 percent lower than March 2019. Of that total, just 76,000 are completed, ready to occupy. The median sales price was $321,400. The median price of a new home sale a year earlier was $310,600.

Regionally, new home sales were down across all four regions: 41.5 percent lower in the Northeast, 8.1 percent down in the Midwest, 0.8 percent down in the South and 38.5 percent lower in the West.  

For more details visit nahb.org.

KEYWORDS: construction Coronavirus housing market National Association of Home Builders (NAHB)

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Recommended Content

JOIN TODAY
To unlock your recommendations.

Already have an account? Sign In

  • resilient flooring

    The 7 Types of Resilient Flooring

    The resilient flooring category is comprised of many...
    Resilient Flooring
    By: Resilient Floorcovering Institute
  • QuickDrain USA’s ShowerLine linear drain

    Tips for Curbless Shower Installation Using a Linear Drain

    Consider these four tips when planning for a curbless...
    Flooring Installation
    By: Darryl Jones
  • 2024 New Flooring Product Guide

    2024 New Flooring Products Guide

    We explore this year's introductions in area rugs,...
    Flooring Installation
    By: FLOOR Trends & Installation Editors
You must login or register in order to post a comment.

Report Abusive Comment

Subscribe For Free!
  • eMagazine
  • eNewsletter
  • Online Registration
  • Manage My Preferences
  • Subscription Customer Service

Retailers Share Top Takeaways from Shaw Flooring Network Convention

Retailers Share Top Takeaways from Shaw Flooring Network Convention

Takeaways from the 2024 AHSG Convention & Member Outlook for 2025

Takeaways from the 2024 AHSG Convention & Member Outlook for 2025

What Shaw Flooring Network Dealers are Banking on for 2025

What Shaw Flooring Network Dealers are Banking on for 2025

Shaw Flooring Network Retailers Report Post-Election Sales Surge

Shaw Flooring Network Retailers Report Post-Election Sales Surge

More Videos

Popular Stories

Ken Ballin manning the Tools 4 Flooring booth in Tool Alley at TISE 2025

10 Tool Innovations Every Flooring Contractor Should Have on Their Wish List

Schluter waterproofing system

Waterproofing Wet Areas: Three Essential Methods to Protect Your Bathroom and Shower Installation

Starnet 2025 Carlsbad CA

Future-Proofing Success: How Starnet Members Are Building Resilient Flooring Businesses


Download the Free Moisture Meters Guide

Events

June 9, 2025

NeoCon 2025

A trade show for the commercial interior design industry.

December 1, 2030

Webinar Sponsorship Information

For webinar sponsorship information, visit www.bnpevents.com/webinars or email webinars@bnpmedia.com.

View All Submit An Event

Poll

Flooring Groups

Flooring retailers, do you belong to a buying, marketing or franchise group?
View Results Poll Archive

Products

2025 BNI Interiors Square Foot Costbook

2025 BNI Interiors Square Foot Costbook

See More Products

FLOORtalk podcasts - Listen Now

Related Articles

  • NAHB

    New Home Sales Higher in January, Yet Supply Concerns Remain

    See More
  • NAHB

    New Home Sales Soften in April with Growing Housing Affordability Concerns

    See More
  • NAHB

    New Home Sales Jump in March on High Consumer Demand

    See More
×

We’re rolling out the red carpet of flooring knowledge!

Stay in the know on the latest flooring retail trends.

JOIN TODAY!
  • RESOURCES
    • Advertise
    • Contact Us
    • Directories
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletters
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • Instagram
    • YouTube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing

search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
  • NEWS
    • Breaking Flooring News
    • eNewsletters
  • PRODUCTS
    • Carpet & Area Rugs
    • Hardwood
    • Installation Products
    • Installation Tools & Equipment
    • Laminate
    • Resilient
    • Specialty
    • Tile & Stone
  • A&D
  • INSTALLATION
  • MARKETS
    • Commercial
    • Residential
  • AWARDS
    • Installation Awards
    • Top Flooring Products
  • EDUCATION
    • Continuing Education
    • Webinars
  • BUYER'S GUIDE
  • MEDIA
    • FLOOR Podcast
    • Videos
    • TISE 2025 Videos
    • Product Spotlights
    • eBooks
  • EMAGAZINE
    • eMagazine
    • Archive Issues
    • Contact
    • Advertise
  • SIGN UP