March New Home Sales Fall 0.6%

New home sales fell 0.6% in March, the Commerce Department said Friday.

Sales decreased to an annual rate of 356,000 units, Commerce said. Economists had forecast a drop to 337,000, Bloomberg reported.

The median price of a new home fell from a year earlier to $201,400, the lowest since December 2003, and new home sales fell 31% from last March.

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.