Sales of new buildings in the United States in March rose better than forecast

Sales of new homes in the United States in March jumped 20.7% compared with the revised figure in February to 1.021 million, according to data from the Census Bureau of the U.S. Department of Commerce.

Analysts surveyed by the portal DailyFх expected an increase of only 12% compared to the initial figure of the previous month – up to 886 thousand. The February figure was revised up to 846 thousand from 775 thousand.

Compared to March 2020, when the indicator was 612 thousand, sales of new homes in the United States in the reporting month showed an increase of 1.6 times. The volume of new home sales is an important indicator of the state of the real estate market and the economy as a whole. Its increase leads to an increase in the spending of new homeowners on furniture and housing services, which, in turn, stimulates the demand for goods, services, and labor. More than half of all construction in the United States is accounted for by the housing stock. Thus, the dynamics of residential real estate sales along the chain are transmitted to other sectors of the economy.

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Author: Steve Cowan
Graduated From Princeton University. He has been at the Free Press since October 2014. Previously worked as a regional entertainment editor.
Function: Chief-Editor
Steve Cowan

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