(Census Bureau) The seasonally adjusted rate of sales of new single-family houses in the US was 763,000 in March, down by 8.6% from the previous month. The sales are at the weakest in four months.
Following the weakness, the sales level in March remained 12.6% below the comparable month of 2021.
All the four regions of the US posted declines in sales, led by the South, with a fall of 10.2%.
The median new home prices hovered around $436,700 in March, with the average sales price at $523,900.
At the end of March, the estimate of new houses for sale was at 407,000, representing a supply of 6.4 months at the prevailing sales rate.
The fall in new houses happened when mortgage rates ran wild, with the 30-year loan reaching 5.11% last week.
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