The lowest level of sales 6 1/2 years of new homes plunged in March as housing slumped further at the start of the spring sales season. Compared to a year ago, the median price of a new home is higher than that of the lowest of March. It fell further down in four decades in record.
Sales of new homes dropped by 8.5 percent last month to a seasonally adjusted annual rate of 526,000 units according to the Commerce Department. This has been the slowest year.
Building permits were only up to 325 homes in March, along the Wasatch Front. Construction Monitor, a service that tracks home-building activity throughout the West, said that the this rate has been also the lowest since March since at least 1990.
The rates to sell new homes show that it has fallen 2 percent short in the same said month. There is also 13.3 percent drop on sold new homes in March compared to the results of March last year.
But even if this is so, last month proved to have the lowest rates because sales were down in all regions of the country. Northeast area has the lowest drop rate of 19.4 percent. In the West, 12.9 percent is the rate, 4.6 percent in Midwest and in the South 4.6 percent.
