New single-family home sales fell 15.4 percent to a seasonally adjusted rate of 627,000 in March, according to data released Thursday by the U.S. Census Bureau and the Department of Housing and Urban Development.
The number fell sharply from 765,000 in February and 693,00 in March 2019 — a drop likely caused by limits that the coronavirus pandemic has put on how real estate can be sold this spring.
Census Bureau
The median sales price of all new single-family homes was $321,400 — an unusual drop after months of rising and $348,200 in February. The number of new homes for sale on the market was 333,000 — a supply of 6.4 months at the current sales rate.