New Home Sales Surge Higher
New Home Sales Surge Higher
Date Published: 2019-04-23
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The information contained on this site is provided for general informational purposes, as a convenience to the readers. The materials are not a substitute for obtaining professional advice from a qualified person, firm or corporation. Consult the appropriate professional advisor for more complete and current information. Capital Market Laboratories ("The Company") does not engage in rendering any legal or professional services by placing these general informational materials on this website.Preface
The economy got some more good news today.
Story
The Commerce Department reported Tuesday that new home sales unexpectedly rose 4.5% in March to a 692,000 annual rate, a beat of expectations and the best since November 2017. Economists polled by Reuters had forecast new home sales, which account for 11.7 percent of housing market sales, decreasing 2.5 percent to a pace of 650,000 units in March. February new home sales were revised slightly lower to 662,000 from 667,000.
The median new-home price slid to $302,700, the lowest in two years.
You can read the full story from IBD here.
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