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The U.S. Census Bureau published today a seasonally adjusted annual rate of new home sales plunged 14.5% to 384,000 units in March. February's figure was revised up to a 449,000 units from the previously reported 440,000 units. The projected value was 450,000 units. March new home sales reached the lowest level since mid-2013.
The median price of a new home was $290,000 in March 2014. It is the highest level ever in March.
The U.S. housing market recovery suffered setback. Yesterday’s publication has shown that March existing-home sales in the USA also declined in comparison to the previous month. But the figure was better than expected by analysts.
The reason for this decline in the U.S. housing market is an unusually cold winter, higher mortgage interest rates and a shortage of properties.
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