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4/23, 4:00 PM (Source: TeleTrader)
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US new home sales rise 20.7% in March

Sales of new homes in the United States increased 20.7% in March compared to the previous month beating market expectations, the US Census Bureau reported on Friday. Sales of new single-family homes were at a seasonally adjusted annual rate of 1,021,000, which is a 60.8% year-over-year increase.

The average sales price of new houses stood at $397,800, with the median sales price being $330,800. The estimate for the number of new houses at the end of March was 307,000, giving a supply of 3.6 months at the current sales rate.

Breaking the News / OL