March Homes Sales Up Four Percent – NMP
Industry News

March Homes Sales Up Four Percent

Apr 24, 2018
Sales of new single-family houses in April 2018 were at a seasonally adjusted annual rate of 662,000

Sales of new single-family houses in March were at a seasonally adjusted annual rate of 694,000, which is four percent above the revised February rate of 667,000 and is 8.8 percent above the March 2017 estimate of 638,000, according to new data from the U.S. Census Bureau and the Department of Housing and Urban Development.
 
The median sales price of new houses sold in March was $337,200 and the average sales price was $369,900. The seasonally-adjusted estimate of new houses for sale at the end of March was 301,000, which represents a supply of 5.2 months at the current sales rate.
 
Initial reaction to the report was optimistic, albeit with a tinge of caution.
 
“Rising prices are a mixed bag for the housing market,” said Danielle Hale, Chief Economist at Realtor.com. “While homeowners benefit from extra equity, potential buyers can get discouraged as the dream of homeownership becomes more elusive. On Thursday, we’ll see data on the homeownership rate for the first quarter of 2018 and get an indication of whether or not home buyers have been able to succeed in spite of rising prices and mortgage rates.”
 
Aaron Terrazas, Economic Research Director at Zillow, wondered aloud if home builders can meet the needs of a new wave of prospective homebuyers.
 
“Rising materials and labor costs are weighing heavily, forcing builders to deliver homes at a price point that may be beyond the reach of many first-time and middle-income buyers,” Terrazas said. “Builders are proving they can build a certain kind of home, but whether enough buyers can afford to come forward for them in meaningful numbers is an open question.”
 
About the author
Phil Hall
Link copied
Published
Apr 24, 2018
Get the NMP Daily
Home Equity
Achieve Closes $261.5M HELOC Securitization Ahead Of Planned TPO Launch

The company expects to begin purchasing fixed-rate HELOCs from correspondent lenders during the third quarter

Achieve has completed a $261.5 million securitization backed by 3,129 fixed-rate home equity lines of credit as it prepares to begin purchasing HELOCs from correspondent lenders.ACHM Trust 2026-HE1 closed July 30 and was announced Aug. 6. It is Achieve’s first HELOC securiti...

Continue reading
Analysis and Data
Better Will Miss September Break-Even Target, Interim CEO Says

Platform volume overtook DTC, but costly enterprise integrations have yet to deliver, and new partnership growth is not expected until Q4

Better Home & Finance will miss its goal of reaching adjusted EBITDA break-even by the end of September, interim CEO Daniel Lewis acknowledged during his first earnings call leading the company.Rather than set another deadline, Lewis said Better must first show that it c...

Continue reading
Renew your NMLS License — for free.

Enjoy access to a free NMLS renewal class when you attend an in-person event.

Find an event
More from
Industry News
The Fed Held. The Mortgage Market Got A Warning.

Three policymakers favored an immediate hike, while Warsh welcomed higher bond yields and offered no clear path toward mortgage-rate relief

Industry News
Jul 30, 2026
New Study Finds UWM's 'All-In' Triggered Industrywide Pricing Spillovers

Research shows wholesale competitors responded to the 2021 Rocket ban by lowering mortgage rates,

Industry News
Jul 15, 2026
First Major Housing Reform In Decades Becomes Law Without Trump's Signature

Bipartisan ROAD to Housing Act advances supply, construction, and mortgage reforms despite White House protest

Industry News
Jul 10, 2026
Mortgage Star Conference Honors Women Shaping The Future Of Mortgage Leadership

MWLC honors leaders driving innovation, mentorship, and growth across the mortgage industry

Industry News
Jul 09, 2026
June Jobs Report Improves Mortgage Rate Outlook

Slower hiring strengthens bonds and eases concerns over additional Fed tightening

Industry News
Jul 02, 2026
NEXA Founder Mike Kortas Launches evoLend To Help Originators Retain Borrowers

New Fannie Mae-, Freddie Mac- and Ginnie Mae-approved mortgage servicer aims to keep originators connected to borrowers through servicing data, payoff visibility and retention tools

Industry News
Jul 02, 2026