Sales of new single-family homes in the United States reached a seasonally adjusted annual rate of 724 thousand in March 2025, marking a 7% increase from February's rate of 674 thousand and a 6% rise compared to the 683 thousand sold in March 2024, according to the U.S. Census Bureau and the Department of Housing and Urban Development. This performance reflects a steady improvement in the housing market, with regional sales surging by 14% in the South and 3% in the Midwest, while the Northeast and West recorded declines.
The number of new houses for sale rose to 503 thousand, up 1% from February and 8% from March 2024. This translates to a supply of 8.3 months at the current sales pace, down from 8.9 months in February but slightly higher than the 8.2 months recorded a year ago.
The median sales price fell to $403,600 in March 2025, a 2% decrease from February’s $411,500 and 8% below the March 2024 median of $436,400. Despite the drop in median price, the average price increased to $497,700, up 1% month-on-month but 5% lower than a year earlier.
Homes priced between $300,000 and $499,999 represented over half of all sales in March, with 33% in the $400,000–$499,999 range and 17% in the $300,000–$399,999 bracket. Units under $300,000 accounted for 17%, while those over $800,000 made up 9% of total sales.
The regional breakdown shows the South leading with 483 thousand homes sold annually, followed by the West with 144 thousand, the Midwest with 69 thousand, and the Northeast with 28 thousand. Year-on-year, the South posted a 22% increase in sales, while the Northeast and West saw declines of 33% and 12% respectively.
