New homes sales tumble 11.4% in March

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Summary. New home supply jumped 15%. Lumber futures have been plunging since the beginning of the year. The Government’s Census Bureau (NYSE: CB) released its new home sales report last week. Sales were estimated to have fallen 11.4% from February to March on a seasonally adjusted, annualized rate (SAAR) basis.

WASHINGTON (Reuters) – Prices of U.S. single-family homes plunged a record 14.4 percent in March. said sales of newly constructed single-family homes rose in April for the first time in six months,

In April, the median sales price for a new home was $309,200, down from $318,700 in March and $321,300 in the year-ago period. As the pace of selling decelerated, there were 5.7 months’ worth of homes available, up from 4.9 months in March.

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Sales of new single-family homes in April came in at a seasonally adjusted rate of 569,000 sales, a decrease of 11.4% from last month’s 642,000 sales. up from 5.4 months in March. While falling.

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