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(Sharecast News) - New home sales in the States rocketed last month.
According to the Department of Commerce, in seasonally adjusted terms, new home sales shot higher by 20.7% on the month to reach an annualised pace of 1.021m.
Economists had penciled-in an increase to 868,000.
A preliminary estimate for February meanwhile was revised up from 775,000 to 846,000.
Versus a year ago, growth in new home sales was running at up by 66.8%, with sales in the Northeast having risen by 108.7%.
The median sales price for a new house did however fall from $345,900 to $330,000, although the average price increased from $394,300 to $397,800.
The inventory of new homes available for sale declined as well, from the equivalent of 4.4 months' worth to 3.6 months.
15 Mar 2023 13:39
UK BUDGET: Hunt aims to make London Stock Exchange "more attractive"
(Alliance News) - The events surrounding Silicon Valley Bank served a stark reminder of the need of a "more diverse financing system", UK Chancellor Jeremy Hunt said as he unveiled his budget.
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