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March New Home Sales Down 0.6%

But that's good news: Numbers are actually better than expected

By the Associated Press

Posted Apr 24, 2009 11:09 AM CDT

(AP) – New US home sales dipped slightly last month but still beat expectations as builders start to see long-awaited encouraging signs about the housing market—including a dip in the inventory of new homes for sale. Sales fell 0.6% in March to a seasonally adjusted annual rate of 356,000, the Commerce Department said today.

March's results exceeded the expectations of economists surveyed by Reuters who expected a sales pace of 340,000 units. Sales were still down nearly 31% from March 2008. The median sales price fell to $201,400, a 12% drop from a year earlier. Prices are likely to remain weak for months as builders continue to clear out their stock of unsold homes.

New KB Home properties built to order are advertised at the KB Home development in Sylmar, Calif. (AP Photo)

Chart shows new home sales for the past 13 months, seasonally adjusted.

The Pulte Homes community of Liberty Park is seen in Novi, Mich. (AP Photo)

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Housing Prices Hit New Recession Low

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Foreclosures Still 'Astronomically High'

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March New Home Sales Down 0.6%

But that's good news: Numbers are actually better than expected

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London Sets Record for Luxury Home Sales

Foreign buyers are pouring in money to escape volatility at home

Housing Prices Hit New Recession Low

And there's no bottom in sight

Foreclosures Still 'Astronomically High'

They account for 28% of all home sales

Home Sales Fell 9.6% in February

Media sales price hits lowest level in almost 9 years

Hands Off, Obama: Let Housing Prices Fall

False incentives will hurt us in the long run

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March New Home Sales Down 0.6%

But that's good news: Numbers are actually better than expected

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OTHER STORIES ON OUR RADAR

housing market • homes • home sales • Department of Commerce • home builders • new home sales • economy

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

London Sets Record for Luxury Home Sales

Foreign buyers are pouring in money to escape volatility at home

Housing Prices Hit New Recession Low

And there's no bottom in sight

Foreclosures Still 'Astronomically High'

They account for 28% of all home sales

Home Sales Fell 9.6% in February

Media sales price hits lowest level in almost 9 years

Hands Off, Obama: Let Housing Prices Fall

False incentives will hurt us in the long run

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?