Sales of new homes notched some gains in March

Sales of newly built homes notched gains last month.

Builders in March sold single-family homes at a seasonally adjusted annual rate of 417,000, according to the Commerce Department. That was 1.5% over the prior month and 18.5% above the same month a year earlier.

The median sales price for new homes was $247,000 last month.

The seasonally adjusted estimate of new homes for sale last month was 153,000 units. That represented a supply of about 4-1/2 months at the current sales rate.

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