Sales of newly built single-family homes increased 7.4% in March to an annual rate of 682,000 (seasonally adjusted), according to the National Association of Home Builders’ analysis of data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. Year-over-year sales were up 3.3%.
On the other hand, new single-family home inventory fell 0.4% in March to 481,000 units. Year-over-year inventory fell 4.6%.
“Builders are gradually increasing production, but elevated construction costs and labor shortages continue to limit the pace of expansion,” Bill Owens, NAHB chairman and home builder said.
The median new home sale price was down 6.2% year-over-year to $387,400, and down 9.7% from the recent peak of $429,100 in December 2025.
Regionally, new home sales were up 8.0% year-over-year in the Midwest, down 17.6% in the Northeast, down 2.6% in the South and down 14.0% in the West.
Read the full report here.
