New Homes Rise But With Underlying Variation

According to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, sales of new homes rose by 4.0 percent over the month of March to reach a seasonally adjusted annual rate of 694,000. Year-to-date, covering the first quarter of 2018, the total number of new homes sold is 10.3 percent ahead of its pace over the first three quarters of 2017. The increase in new home sales over the month also reflects a 7.9 percent upward revision in sales over February from an initial estimate of 618,000, illustrating the volatility in the data and subsequent revisions.

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Source: NAHB