US new home sales increased 8.8% in March, reaching 693,000 annual sales, the highest since September 2022.
US new home sales increased 8.8% in March, reaching a pace of 693,000 annual sales - the highest since September 2022. This surpassed economists' median estimate of 668,000. Despite the uptick, high mortgage rates and inflation persist, constraining the housing market. The supply of new homes on the market reached 477,000 in March, the highest since 2008, while the median sales price in March fell 1.9% year-on-year to $430,700.
April 23, 2024
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