In March, sales of new single-family homes reached a seasonally adjusted rate of 417,000, leaving a 4.4-month supply of homes, according to the U.S. Department of Commerce. This is still below the level of January's spike, but 1.5 percent above February's revised rate of 411,000. The quarter as a whole was the best since 2008.
The median sales price of new houses was $247,000, down from February's median price of $264,900. The average home price dropped to $279,900 compared with $310,000 from February.
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