U.S. new home sales jump 26.9 pct in March

WASHINGTON, April 23 (BestGrowthStock) – Sales of newly built U.S.
single-family homes rebounded strongly in March to touch their
highest level in eight months as buyers rushed into the market
to take advantage of a homebuyer tax credit, a government
report showed on Friday.

The Commerce Department said sales surged 26.9 percent, the
largest advance since April 1963, to a 411,000 unit annual
rate, breaking a four-month slide. February new home sales were
revised up to a 324,000-unit pace from 308,000 units
previously.

The rise last month could also reflect a snap back from
adverse weather conditions in February. Analysts polled by
Reuters had expected new home sales to increase to a
330,000-unit rate.

Investing Analysis

(Reporting by Lucia Mutikani; Editing by Chizu Nomiyama)

U.S. new home sales jump 26.9 pct in March