by Bill McBride on 4/26/2005 08:21:00 PM
Tuesday, April 26, 2005
Here is a graph of actual monthly New Home Sales for the last 3 years.
Click on graph for larger image.
March is usually one of the strongest months of the year, and for March 2005, sales were a monthly record of 144 thousand units.
Interestingly the median sales price dropped significantly in March. The reason probably is due to the surge in sales in the South. Over half the sales in March (73 thousand) occured in the South (the Census bureau segments the data into four regions). The previous record for the South was 59 thousand last March.
So sales in the South increased 23% from last March, but only 10% over the other three regions.