In March, new home sales in the U.S. saw a significant increase, rising by nearly 9% to reach 693,000 units, marking the fastest pace in six months. This surge brought the sales to a six-month high and was notable despite higher mortgage rates. The Commerce Department highlighted that this was the highest level of sales since last fall. Additionally, the supply of new single-family homes also rose to 477,000 units, the highest since 2008, while the monthly supply slightly declined but remained elevated. Sales have been growing from 2022 lows, and the year-over-year change in sales accelerated, indicating a robust housing market. Concurrently, pending sales of existing homes reached their highest levels in a year.
Pending sales of existing US homes in March reached their highest levels in a year in spite of persistently high borrowing costs and a low supply https://t.co/tfoTBoXr7q
"New single-family home sales rose by 8.8% in March to 693k (fastest pace in 6 months) while the supply of new homes for sale rose to the highest (477k) since 2008". - @dailychartbook https://t.co/OoucPT0n2h
Year/year change in new single-family home sales accelerated in March … not back to prior highs but still in healthy territory https://t.co/8u7894yZVr
Monthly supply of new single-family homes declined slightly in March but remained elevated relative to history https://t.co/4pKIqrBz16
New single-family home sales rose by 8.8% in March to 693k (fastest pace in 6 months) while the supply of new homes for sale rose to the highest (477k) since 2008. @Bloomberg https://t.co/fk9inq7YlS
Sales of newly built single-family homes jumped nearly 9% in March, reaching their highest level since last fall, the Commerce Department reported Tuesday. https://t.co/FirO8OAMCQ
New home sales still growing from 2022 lows https://t.co/ET4Zgy349X
New home sales in March bounced to a six-month high and brought prices along for the ride. https://t.co/pDQz0kI7km
New home sales rose 8.8% in March despite higher mortgage rates https://t.co/EqIXZnKDOk https://t.co/EqIXZnKDOk