New Residential Sales in March: In a Word — Abysmal
Blame the weather! Oh wait, Northeast only region to rise. Hmmm.
After the highly touted 5 year high reached in January sales of new single-family houses took a face plant in February and landed even deeper in the mud in March. Sales were at a seasonally adjusted annual rate of 384,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 14.5 percent below the revised February rate of 449,000 and is 13.3 percent below the March 2013 estimate of 443,000.