2:14 pm New Home Sales Slide As Affordability Conditions Worsen
New home sales declined 14.5% in March from an upwardly revised 449,000 (from 440,000) in February to 384,000. The Briefing.com consensus expected home sales to increase to 455,000. March sales were the lowest since 373,000 new homes were sold in July 2013. Winter weather conditions, which were unduly blamed for softness across the economy, again showed little effect in the new home sector. The return to more normal temperatures, which should have boosted sales from pent up demand, resulted in the weakest demand …More
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