88
      Sunday
      90 / 70
      Monday
      91 / 73
      Tuesday
      93 / 72

      New home sales down in March

      New home sales dip in March

      WASHINGTON (AP) Sales of new homes fell in March by the largest amount in more than a year, indicating that the U.S. housing market remains under strain despite some modest signs of improvement.

      The Commerce Department says sales dropped 7.1 percent in March to a seasonally adjusted annual rate of 328,000 units. That followed a 7.3 percent increase in sales in February. This figure was revised up from an initial estimate that February sales had fallen 1.6 percent.

      The weakness in March could reflect that a warmer-than-normal winter caused sales that normally occur at the start of the spring sales season in March to occur in February.

      The median home price was $234,500 in March, down 1 percent from the February sales price.