New-Home Sales Take Off

March new-home sales took off, up 4 percent to 694,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). The average new-home sales price was $369,900, while the median was $337,200. New-home listing inventory was 301,000—5.2-months supply.
“The March new-home sales report is consistent with our solid builder confidence readings over the past several months,” said Randy Noel, chairman of the National Association of Home Builders (NA