Talking Points …
- Sales of new single-family houses in March 2015 tumbled back down to a seasonally adjusted annual rate of 481,000, 11.4 percent below last month’s revised estimate of 543,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development.
- The median sales price of new houses sold in March 2015 was $277,400; the average sales price was $343,300. The seasonally adjusted estimate of new houses for sale at the end of March was 213,000.
- While sales did drop, they were 19.4 percent above the March 2014 estimate of 403,000. It is expected that the fall is more likely to be a temporary payback after strong growth in previous months rather than a sign that housing activity is starting to cool again.
Source: CALIFORNIA ASSOCIATION OF REALTORS