U.S. Homes Sales Rebound in March, Beat Analysts’ Estimates

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In March, the Commerce Department revised down several prior months’ sales estimates. One thing that helped boost sales: lower prices. The median price of a home sold in March was $302,700, 9.7%.

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Sales of new U.S. homes rebounded to the best pace in almost a year and exceeded estimates in February, led by the Midwest, as lower mortgage costs helped buyers afford properties. Single-family.

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Total existing-home sales in the U.S., which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, jumped 5.1 percent to a seasonally adjusted annual rate of 5.33 million in March from a downwardly revised 5.07 million in February.

U.S. housing market activity has cooled off since last March.. What little attention is paid to the housing outlook is often negative in nature with many analysts. is taking a well-earned rest and that a home sales rebound can soon be. While mortgage rates have recently hit their lowest levels in almost.

Existing home sales rebound a bit in March. Economists surveyed by MarketWatch expected sales to rebound to 5.0 million units in March. Sales fell a revised 8.9% in February to 4.92 million units, up from the initial estimate of an 9.6% drop to 4.8 million units. The median price of homes sold was down 5.9% from last year at $159,600.

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