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US new home sales rocket in March
23rd Apr 2021 15:24
(Sharecast News) - New home sales in the States rocketed last month.
According to the Department of Commerce, in seasonally adjusted terms, new home sales shot higher by 20.7% on the month to reach an annualised pace of 1.021m.
Economists had penciled-in an increase to 868,000.
A preliminary estimate for February meanwhile was revised up from 775,000 to 846,000.
Versus a year ago, growth in new home sales was running at up by 66.8%, with sales in the Northeast having risen by 108.7%.
The median sales price for a new house did however fall from $345,900 to $330,000, although the average price increased from $394,300 to $397,800.
The inventory of new homes available for sale declined as well, from the equivalent of 4.4 months' worth to 3.6 months.
According to the Department of Commerce, in seasonally adjusted terms, new home sales shot higher by 20.7% on the month to reach an annualised pace of 1.021m.
Economists had penciled-in an increase to 868,000.
A preliminary estimate for February meanwhile was revised up from 775,000 to 846,000.
Versus a year ago, growth in new home sales was running at up by 66.8%, with sales in the Northeast having risen by 108.7%.
The median sales price for a new house did however fall from $345,900 to $330,000, although the average price increased from $394,300 to $397,800.
The inventory of new homes available for sale declined as well, from the equivalent of 4.4 months' worth to 3.6 months.