U.S. New Home Sales Rebounded in March
By Xavier Fontdegloria
Purchases of new single-family houses in the U.S. bounced back
in March, more than reversing the fall registered in the previous
month. Here are the main takeaways from the Commerce Department's
report released Friday:
--New home sales increased 20.7% in March compared with February
to a seasonally adjusted annual rate of 1,021,000.
--The reading is well above economists expectations polled by
The Wall Street Journal, who expected a 14.6% rise to a seasonally
adjusted annual rate of 888,000.
--March sales were 66.8% above the same month a year
--February new home sales were upwardly revised to 846,000 from
an earlier estimate of 775,000.
--Monthly new residential sales data is volatile and often
revised. March figures came with a margin of error of 23.7
--The median price of a new home was $330,800, up from $328,200
the same month a year earlier but down from $345,900 in
--The seasonally adjusted estimate of new houses for sale at the
end of March was 307,000. This represents a supply of 3.6 months at
the current sales rate.
Write to Xavier Fontdegloria at email@example.com
(END) Dow Jones Newswires
April 23, 2021 10:28 ET (14:28 GMT)
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