U.S. New Home Sales Rise in March

According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes in the U.S. rose to a seasonally adjusted annual rate of 692,000 units in March 2019. This is the highest sales pace since November 2017.  "These numbers indicate that builders who can produce housing at affordable price points will experience sales growth," said Greg Ugalde, chairman of the National Association of Home Builders. "However, builders are still dealing with a shortage of construction workers and buildable lots, which limits housing affordability."