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Home U.S. World Entertainment Sports Business Health Science Technology Politics Offbeat Environment Travel News Articles New Homes Sales Surge In March, Top Forecasts Email Facebook Digg Twitter Buzz Up! ShareThis April 23, 2010 1:13 p.m. EST Topics: construction and property, house building, economy, business and finance, economy, United States Mitchell Jaworski - AHN News Reporter Washington, DC, United States (AHN) - New home sales in the U.S. jumped by their fastest pace since'63 as buyers hurried to make purchases before tax credits expire. The Commerce Department said new home sales rose 27 percent in March to an annual pace of 411,000, easily outpacing economist estimates for a rate of 330,000. The rebound in March sales is even more impressive considering the February sales pace of 324,000 marked a record low. Median sales price of a new home in March was $214,000, up 4.3 percent from last year, while average price was $258,600. New home inventory at the end of the month was 228,000, the fewest since March of'71. The decline in available homes, coupled with an increased sales pace, pushed supply to 6.7 months’ worth, down from 8.6 in February. Elsewhere, the Commerce Department said durable goods order slipped 1.3 percent in March. However, excluding transportation, which includes an extremely volatile aircraft and automobile sector, orders surged 2.8 percent. Economists had expected an increase of 0.7 percent, excluding transportation, following a 1.7 percent rise in February. The rise in durable goods orders in March is the best seen since December 2007, spurred by capital investment by businesses as the economy rebounds. Copyright © 2003 - 2010 AHN - All rights reserved.Redistribution, republication. syndication, rewriting or broadcast is prohibited without the prior written consent of AHN.License AHN news for your website, business, digital signage network or publication. Most Popular Stories White Supremacist Sentenced In Plot To Kill Obama, Blacks Sandra Bullock To Divorce Jesse James With “Master Plan” Poll: Most Americans Confused About Health Care Bill UFC President Dana White Rips Strikeforce, Guarantees He'll Sign Shields Iran Unveils Stealth Warship In Persian Gulf War Game Four Decades Later, Healthy And Green Earth Day Brings Cash For Appliances Amanda Seyfried’s Back-To-Front Dress Fails To Impress Critics Passengers Battered When Carnival Cruise Ship Tips British IT Expert Warns Canada That New ePassport Is Easy To Hack NFL Draft: Bradford Goes No. 1 To Rams; Suh, McCoy Picked 2-3 Recent Posts Most Popular Comments Recent Comments Popular Threads Home | U.S. | World | Entertainment | Sports | Business | Health | Sci / Tech | Politics | Weird / Offbeat Follow AHN on Twitter AHN Social News connects you with friends and the news Client Login | Submit News | Privacy Policy | Terms of Use | Contact | Content Services © 2010 AHN All Rights Reserved

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