New Home Sales Climb by Most Since 1963

Sales surged 27% to an annual rate of 411,000 units, from a revised 324,000 in February, Commerce said.

Economists had forecast the rate to rise to a 325,000-unit pace, Bloomberg reported. The rate exceeded the forecasts of all economists surveyed.

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.

New home sales account for about 15% of residential real estate sales.