Apr
25
U.S. New-Home Sales Unexpectedly Rise to Highest Since July
ByPurchases of new U.S. homes unexpectedly increased in March to an eight-month high, indicating housing demand remained strong at the start of the spring buying season, Commerce Department data showed Tuesday.
Key Points
- Single-family home sales increased 5.8 percent to a 621,000 annualized pace (median forecast called for a 584,000 rate)
- The median sale price of a new house rose 1.2 percent from March 2016 to $315,100
- Supply of homes shrank to 5.2 months from 5.4 months; there were 268,000 new houses on the market at the end of March…
U.S. New-Home Sales Unexpectedly Rise to Highest Since July
