Sales of new single-family houses during March totaled 328,000, 7.1 percent below the revised February rate of 353,000 but 7.5 percent above the March 2011 estimate of 305,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

The median sales price of new houses sold last month was $234,500 and the average sales price was $291,200. The seasonally adjusted estimate of new houses for sale at the end of March was 144,000. This represents a supply of 5.3 months at the current sales rate.