facebook
twitter
search
search

New home sales slid in March

April 24, 2012 at 11:59 AM

WASHINGTON, April 24 (UPI) -- Sales of new single-family homes declined 7.1 percent from February to March, the U.S. Commerce Department said Tuesday.

Home sales in March came in at a seasonally adjusted annual rate of 328,000. In February, the rate stood at 353,000 new homes sold, the department said, releasing a revised figure.

The rate of home sales in February was 7.5 percent above the 305,000 new single-family homes sold in the same month of 2011.

The Commerce Department said the average sale price for a new home sold in February was $291,200.

Going into April, there were 144,000 new homes on the market, enough to last 5.3-months at the current rate of sales, the Commerce Department said.

Related UPI Stories
Latest Headlines
Top Stories
Crude oil prices extend losses
Turkish oil pipeline from Iraq bombed
Chevron aims at cost reductions of $1 billion
Greenpeace again stands in Shell's way to arctic
Texas oil production up year-on-year