The United States Department of Housing and Urban Development (HUD) and the United States Census Bureau released a joint statement reporting new residential sales statistics for March 2017.
Comparing March of 2016 with March of 2017, seasonally-adjusted national sales of single-family homes have increased 15.6% from 537,000 to 621,000. Comparing to February 2017 with 587,000 sales, this is an increase of 5.8%. The March 2017 median sales price of single-family homes was $315,100, while the average sales price was $388,200.
The report also provides the estimated number of new houses for sale, as of the end of March 2017. HUD and the U.S. Census Bureau estimate 268,000 new homes for sale, or approximately 5.2 months worth of supply.
Looking to the Northeast, the region saw a 21.9% spike in new residential sales from March 2016 to March 2017, from 32,000 to 39,000 homes sold.