Nationally, New Home Sales, which measures signed contracts on new homes, were up 5.8% in March at a 621,000 unit annualized pace. This was much stronger than estimates of 588,000. Today’s figure was the 2 best number in 9 years. The Median Home Price was reported at $315,100 and inventory remained tight at a 5.2 month supply – there were 268,000 new homes for sale at the end of March. This strong report comes on the heels of Existing, which is 90% of market, was at a 10 year high.
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