The U.S. government announced on April 23 that new home sales accelerated in most parts of the country in March, not only recovering from the February winter storm that led to a decline in sales, but also reaching a 15-year peak.
The U.S. Department of Commerce noted that new home sales grew 20.7% in March, pushing the annual rate of single-family home sales above 1.02 million, the highest level since August 2006.
According to economic data, the annual rate of home sales in March was nearly 67% higher than a year earlier, when the U.S. economy was hit by the outbreak of the epidemic.
U.S. new home sales in March outperformed analysts’ expectations and were different from the 3.7% decline in March home sales. The U.S. home sales market is much larger than the new home market, and the sales decline was mainly due to tight supply and rising home prices.
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