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.
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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