Sales of New Single-Family Homes in March

SOURCE www.breitbart.com
Sales of new single-family homes surged in March, exceeding economist forecasts. The increase in sales, driven by activity in the South, comes despite concerns about economic growth, mortgage rates, and consumer sentiment. The median sales price of new homes fell, reflecting increased supply at lower price points. Inventory increased to the highest level since 2007.

Key Points

  • Sales rose 7.4% in March to a seasonally adjusted annual rate of 724,000
  • Median sales price fell to $403,600, down 7.5% from a year earlier
  • Inventory increased to 503,000 homes for sale, the highest since 2007

Pros

  • Surge in new home sales
  • Exceeded economist forecasts
  • Reflects ongoing resilience in the U.S. economy

Cons

  • Concerns about economic growth, mortgage rates, and consumer sentiment