US home sales exceed forecasts in March

Sales of new US homes were stronger than projected in March, indicating cheaper borrowing costs are helping stabilise the real estate market.

24th April, 2012

Sales of new US homes were stronger than projected in March, indicating cheaper borrowing costs are helping stabilise the real estate market.

Purchases ran at a 328,000 annual rate, a decline of 7.1 per cent from a revised 353,000 pace in February that was faster than first projected, figures from the Commerce Department showed today in Washington. Economists forecast a March rate of 319,000, according to the median estimate in a Bloomberg News survey. Inventory...

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