New home sales fell 7.1% in March from a two-year high the previous month, the Commerce Department said Tuesday.
Sales decreased to an annual rate of 328,000 following a revised 353,000 rate in February that was 40,000 higher than previously reported.
March’s rate was above economists’ median forecast of 319,000, Bloomberg reported.
New home sales account for about 15% of residential real estate sales. Rising home sales can mean more business for flatbed trucking companies that haul building materials and dry van freight carriers that haul household appliances and furniture.