New home sales climb
April 25th, 2007, 9:50 am · Post a Comment · posted by mistywilliams
Sales of new homes rose 2.6 percent nationwide in March compared with the month before — a sharp contrast to the dismal existing home sale number, which plunged 8.4 percent in the same month.New home sales were at a seasonally adjusted annual rate of 858,000, according to the U.S. Census Bureau and Department of Housing and Urban Development. Though a slight uptick from February, sales were still 23.5 percent below the March 2006 estimate of 1.1 million.Meanwhile, the median price for a new home was $254,000, according to the report. The number of new homes for sale at the end of March was 545,000 — a 7.8 months supply.
