New Home Sales Beat Expectations With An 11% Rise

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Headline: Up 11.1%, to 300,000 annualized

Consensus: 280,000

Analysis: Last month, new home sales fell 16.9%, to 250,000 annualized. That number has been revised slightly higher, to 270,000.

So March home sales are still a sharp improvement over February. But these percentages are misleading, because of the limited size of sales overall. We’re down 84,000, year-over-year, according to the Census Bureau.

Prices still continue to fall, due to oversupply in the marketplace.

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