New-home sales dive 24% in March

The rate of new single-family home sales dropped about 23.5 percent in March compared to the same month last year, while the median price rose about 6.4 percent, the U.S. Census Bureau and Department of Housing and Urban Development reported today.

The seasonally adjusted annual rate of new single-family home sales was 858,000 in March. This rate is based on the projection of a monthly sales total over a 12-month period, adjusted to account for seasonal fluctuations in sales activity.

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