(MENAFN) Sales of new U.S. homes increased in March to an eight-month high, involving housing demand remained strong at the start of the spring buying season.
Additionally, single-family home sales grew 5.8 percent to a 621.000 annualized pace, while median forecast called for a 584.000 rate.
Moreover, the median sale price of a new house grew 1.2 percent from March last year to USD315.100, while supply of homes shrank to 5.2 months from 5.4 months.
Meanwhile, steady job growth and enhancing wages are continuing to drive demand, building on last year's new-home sales that were strong since 2007.
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