US new home sales continue to rise in March
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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