Today, the
U.S. Census Department released its monthly
New Residential Home Sales Report for March showing an increase with sales rising 5.8% from February climbing 15.6% above the level seen in March 2016 but still remaining near an historically low level with 621K SAAR units.
The monthly supply declined to 5.2 months while the median selling price increased 1.19% and the average selling price increased by 5.58% from the year ago level.
The following chart show the extent of sales decline to date (click for full-larger version).
