New Home Sales Up 27% in March

Washington, DC, April 23, 2010--New home sales rose by 27% in March to a seasonally adjusted annual sales pace of 411,000, the U.S. Census Bureau and the Department of Housing and Urban Development report. Up from February's 324,000, this increase represents the largest monthly jump in 47 years.

Following February's record low sales, March was the strongest month since July 2009. March's median new home sales price was $214,000, 4% higher than the year-over-year price but 3% less than February's median.