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Sale of new homes at 328,000 annual rate in March

WASHINGTON (MarketWatch)
New homes in the U.S. were sold at an annual rate of 328,000 in March, slightly above market forecasts
Yet sales fell by 7.1% last month because purchases of new homes in February were revised sharply higher, according to Commerce Department data released Tuesday
In February, the sales rate was revised up to 353,000 from an original reading of 313,000 Economists surveyed by MarketWatch expected new home sales in March to total 325,000 on a seasonally adjusted basis
The median sales price, meanwhile, fell 1% last month to $234,500
The supply of new homes on market dipped to 5.3 months from 5.4 months in February.

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