US New Home Sales Increase in February and March; Median Price Drops
New-home inventory stayed elevated as the median price fell 6.2% from a year earlier, Commerce Department data showed.
- On Tuesday, the Commerce Department's Census Bureau reported new-home sales surged 7.4% to a seasonally adjusted annualized rate of 682,000 units in March.
- Sales rebounded to 635,000 units in February from 583,000 in January, when winter storms weighed down activity.
- The median new-house price dropped 6.2% to $387,400 in March, while new housing inventory dipped to 481,000 units from 483,000 in February.
- Most homes sold in March were under $399,999, and supply clearance time fell to 8.5 months from 9.1 months in February.
- Freddie Mac data showed 30-year fixed-rate mortgage rates jumped to 6.46% in early April, while the war with Iran creates economic uncertainty that could limit further gains.
20 Articles
20 Articles
US new home sales increase in February and March; median price drops
Sales of new U.S. single-family homes increased in February and March as the drag from harsh weather faded, but higher mortgage rates because of the impact of the war with Iran could limit further gains.
The sale of new homes in the country recorded higher increases in February and March than the specialists expected, according to data released on Tuesday by the Department of Commerce. 635,000 new homes were marketed in annualized terms in February, representing an increase of 8.9% compared to January. In March, sales rose to 682,000 units annually, 7.4% higher than in February and 3.3% higher than the level recorded a year earlier. In both mont…
US New Home Sales Increase in February and March, Median Price Drops
Sales of new U.S. single-family homes increased in February and March as the drag from harsh weather faded, but higher mortgage rates because of the impact of the war with Iran could limit further gains. New home sales surged 7.4% to a seasonally adjusted annualized rate of 682,000 units in March, the Commerce Department’s Census Bureau said on Tuesday. Sales increased to a rate of 635,000 units in February from 583,000 units in January, when th…
Average price was US$ 503.1 thousand, down 3.4% compared to February
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