New home sales settled down a bit in March after a dramatic
surge in the Northeast in February that drove national sales figures up nearly
8 percent. The Census Bureau and U.S.
Department of Housing and Urban Development reported today that sales of newly
constructed single family homes in March were at a seasonally adjusted annual
rate of 481,000 units. This was down
11.4 percent from February’s sales, originally reported at 539,000 but revised
even higher to 543,000 with today’s report.
Sales for the month were up 19.4 percent compared to the
same period in 2014. The rate at that
time was estimated at 403,000 units.
On a non-adjusted basis there were 45,000 new homes sold in
March, unchanged from February.
Thirty-nine thousand homes sold during the month of March in 2014.