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US new home sales decline in March

by ChemOrbis Editorial Team - content@chemorbis.com
  • 24/04/2015 (12:04)
New home sales in the US declined in March, posting their largest decline since July 2013, according to data released by the US Commerce Department. New home sales dropped 11.4% to 481,000 units on a seasonally adjusted basis in March from February’s upwardly revised pace of 543,000 units. Economists’ initial estimates called for a decline to 513,000 units in March, according to a survey by Reuters.

New home sales in the Northeast slumped 33.3% while sales increased 5.9% in the Midwest. New home sales fell 15.8% and 3.4% in the South and West, respectively.

Meanwhile, the data also showed that new home stocks on the market increased 1.9% on the month to 213,000 units in March.
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