U.S. new home sales rebound exceeds expectations in March
FILE PHOTO: A newly constructed single family home is shown as sold in Encinitas, California, U.S., July 31, 2019. REUTERS/Mike Blake/File Photo
WASHINGTON (Reuters) - Sales of new U.S. single-family homes rebounded more than expected in March, likely boosted by an acute shortage of previously owned houses on the market.
The Commerce Department said on Friday that new home sales surged 20.7% to a seasonally adjusted annual rate of 1.021 million units last month. Economists polled by Reuters had forecast new home sales, which account for a small share of U.S. home sales, increasing to a rate of 886,000 units in March.
(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Williams: Rate Hike Not Baseline, But Possible If Data Warrants
- Natural Gas Inventory 50 bcf vs 52 bcf Expected
- Netflix Q1 earnings top estimates on blowout subscriber growth
Create E-mail Alert Related Categories
Economic Data, General News, ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!