New Home Sales Have Best Quarter Since 2008

Washington, DC, April 23, 2013 -- New-home sales rose in March, marking the best quarter for the industry since 2008, according to the Commerce Department.

Sales of single-family homes increased 1.5% last month to a 417,000 annual pace from a 411,000 rate in February. That was largely in line with economists' expectations.

New-home purchases were 17.6% higher in March than the same period in 2012 on an unadjusted basis. The median price of a new home climbed 3% last month from a year ago to $247,000.

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