March sees unexpected 7.4% jump in new US single-family home sales

Posted on April 24, 2025   |  

New single-family home sales in March reached a seasonally adjusted annual rate (SAAR) of 724,000, marking a 7.4% increase from February and 6.0% higher than March 2024.

The number of new houses for sale rose to 503,000, up 0.6% from February and 7.9% above last year’s March estimate.

Housing supply stood at 8.3 months, down 6.7% from February’s 8.9 months, but slightly up (1.2%) compared to March 2024.

The median sales price in March was $403,600, a 1.9% drop from February and 7.5% lower than March 2024.

The average sales price climbed to $497,700, a 1.0% increase from February, but 4.7% below last March’s average.

Inventory levels and lower prices suggest potential buyer incentives and builder adjustments to meet demand.

The data reflects steady sales momentum, even as pricing and inventory dynamics shift across the US housing market.