0 minute readSpurred by the home buyer tax credit, and increased optimism in the economy, the housing market continued on Friday to show improvement. The Commerce Department said that sales of new homes rose in March to their highest levels since last summer. Overall, the sales of new single family houses in March were up nearly 27 percent at a seasonally adjusted annual rate of 411,000 units, the Commerce Department reported. The increase was against a revised rate of 324,000 for February and it exceeded expectations.
Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio
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The story for the housing market over the past three years has been, “Home sales are down, home prices are up.” Because inventory was so restricted after the pandemic, prices pushed higher even as demand weakened. That story may finally be inverting as unsold inventory of homes is now great enough that home prices are […]
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Diana Golobay was a reporter with HousingWire through mid-2010, providing wide-ranging coverage of the U.S. financial crisis. She has since moved onto other roles as a writer and editor.see full bio