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US new home sales continue to rise in March

by ChemOrbis Editorial Team -
  • 26/04/2017 (11:21)
According to data released by the US Commerce Department, new U.S. single-family home sales posted a further increase in March after reaching the highest level of seven months in February.

New home sales climbed by 5.8% on a monthly basis to 621,000 units in March after a revised 587,000 in February and beat the economists’ estimates of a drop to 585,000. New home sales were also up by 15.6% on a yearly basis.

The jump in home sales in the third month of the year was mainly driven by a rise in home sales in the Northeast and the West, where sales posted respective increases of 25.8% and 16.7%.
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