U.S. New Home Sales Up 11% in March Apr 26, 2011

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

The March 2011 rate is up 11.1% from the revised February rate of 270,000, but is 21.9% below the March 2010 estimate of 384,000.

The median sales price of new houses sold in March 2011 was $213,800; the average sales price was $246,800. The seasonally adjusted estimate of new houses for sale at the end of March was 183,000. This represents a supply of 7.3 months at the current sales rate.

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