The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for March 2022:

New Home Sales

Sales of new single‐family houses in March 2022 were at a seasonally adjusted annual rate of 763,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8.6 percent (±12.9 percent)* below the revised February rate of 835,000 and is 12.6 percent (±11. 3 percent)* below the March 2021 estimate of 873,000.

Sales Price

The median sales price of new houses sold in March 2022 was $436,700. The average sales price was $523,900.

For Sale Inventory and Months’ Supply

The seasonally‐adjusted estimate of new houses for sale at the end of March was 407,000. This represents a supply of 6.4 months at the current sales rate.