US New-Home Sales Collapse
in March
Sales of new U.S.
The Commerce Department said Thursday that
new-home sales fell 11.4 percent last month to a seasonally adjusted annual
rate of 481,000. This marks a swift reversal from an annual sales pace of
543,000 in February, which had been the strongest performance in seven years.
Purchases of new homes have been volatile on a
monthly basis, although sales during the first quarter of 2015 are higher than
in 2014. The volatility points to a real estate market still finding its
footing in the aftermath of the housing bubble that triggered the Great
Recession in 2007 and the weak recovery that has followed. Read More.
Not That Long Ago
