New Home Sales Fall 22% Year Over Year

Census Department:

“Sales of new single-family houses in March 2011 were at a seasonally adjusted annual rate of 300,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 11.1 percent (±21.7%)* above the revised February rate of 270,000, but is 21.9 percent (±10.3%) below the March 2010 estimate of 384,000.

Note the margin of error. The monthly gain of 11% is not statistically significant with an error of +/- 21.7%. On the other hand, the year over year drop of 21.9% is statistically significant with an error of +/- 11.1%.


New Home Sales (March 2011)

click for larger chart

Chart courtesy of Calculated Risk

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