New Home Sales Rise But Median Price Falls

A big increase in home sales in March sends a mixed signal. The National Association of Realtors reports a 16.2% increase in home sales; however, the median price of new homes fell more then 10%. At this point, it’s not clear whether the worst of the housing slump is over. And despite this increase in home sales, foreclosures are up, which means that more homeowners will be in the rental market. It is definitely a buyer’s market.

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