March New Home Sales Sink 11.4 Percent

Newly built, single-family homes dropped 11.4 percent in March to a seasonally adjusted annual rate of 481,000 units from February’s 543,000, according to the U.S. Census Bureau.

Sales in March were still 19.4 percent higher than in March 2014.

Regionally, new home sales increased 5.9 percent in the Midwest in March compared with sales in February. In the Northeast, sales dove 33.3 percent. The South and West also saw decreases of 15.8 percent and 3.4 percent, respectively.