Market Update: New home sales fall 1.5% in March

This morning’s U.S. Census Bureau report showed that new home sales in March fell 1.5% to a seasonally-adjusted annual rate of 511,000 units. Quicken Loans vice president Bill Banfield offers the following comments on the report:

“New home sales have been a mixed bag lately. Despite the decline in sales so far this year, we’ve continued to see modest growth overall and an increase in supply that will help consumers with more choices in their home buying search.”

If you would like to speak to Bill about this or any other topic, please contact us.