U.S. single-family home sales exceed February figures, but fall below 2010 estimates

Sales of new single-family homes in March 2011 were at a seasonally adjusted annual rate of 300,000, according to data released today by the U.S. Census Bureau and the Department of Housing and Urban Development.

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That is 11.1 percent above the revised February rate of 270,000, but is 21.9 percent below the March 2010 estimate of 384,000. The median sales price of new homes sold in March 2011 was $213,800; the average sales price was $246,800.

The seasonally adjusted estimate of new homes for sale at the end of March was 183,000. That represents a supply of 7.3 months at the current rate. TRD