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New home sales in March increased 20.7% to 1.02 million units

On Friday, April 2, 2021, there is a “for sale” sign next to Mount Prospect’s residential area. House prices in the United States rose at the fastest pace in the seven years of January, as the pandemic increased demand for single-family homes. Even if the supply of such homes declines. (AP photo / Nam Y. Huh) (Copyright 2021 Associated Press. All rights reserved.)

Washington – New home sales surged 20.7% in March, recovering from the previous month when severe winter storms caused havoc in many parts of the country.

The Commerce Department reported on Friday that sales rose to a seasonally adjusted annual rate of 1.02 million after falling 16.2% in February.

The median selling price of new homes sold in March was $ 330,800, up just 0.8% from the median selling price a year ago.

The significant increase in new home sales contrasted with existing home sales, which declined for the second straight month in March. This is because existing home prices have been pushed to new highs due to supply shortages.


New home sales in March increased 20.7% to 1.02 million units

Source link New home sales in March increased 20.7% to 1.02 million units

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