New Home Sales Up 1.5% for March

New home sales increased 1.5% to a seasonally adjusted annual rate of 417,000 for March, according to a Commerce Department report (link opens a PDF) released today. After a 4.6% drop for February and a 15.6% jump in January, these newest numbers represent a slightly more stable rise in sales.


Although March's report gets points for steadiness, housing market growth is less than stellar. Results fell just short of market analysts' expectations of a 419,000 annual rate, another letdown after yesterday's existing-home sales report.

Median home prices barely budged, moving up $200 to $247,000 for March.

After a 4.8% expansion in supply last month to 4.4 months at the current sales rate, home inventories remained unchanged for March. A report released yesterday continues to point to a lack of supply as the primary reason for the housing market's slow recovery.

Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2381023, ~/Articles/ArticleHandler.aspx, 9/28/2016 1:42:01 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 4 hours ago Sponsored by:
DOW 18,228.30 133.47 0.74%
S&P 500 2,159.93 13.83 0.64%
NASD 5,305.71 48.22 0.92%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes