While the 12-month moving average for March shows Texas new home sales increased slightly to 4,556 sales from 4,544 sales in February, the 3-month moving average shows the impact of tightening inventory. According to the HomesUSA.com report, the index tracking the 3-month moving average shows a significant drop in total monthly new home sales statewide, with March showing 3,753 sales versus 3,901 in February.
While the 12-month moving average for March shows Texas new home sales increased slightly to 4,556 sales from 4,544 sales in February, the 3-month moving average shows the impact of tightening inventory. According to the HomesUSA.com report, the index tracking the 3-month moving average shows a significant drop in total monthly new home sales statewide, with March showing 3,753 sales versus 3,901 in February.