New Home Sales Rise to a Record Rate in March

ales of new homes rose in March to a record 1.228 million annual rate, the Commerce Department said Monday.

Single-family home sales rose 8.9% from a revised 1.128 million annual pace in February. New home sales reached an all-time high of 1.085 million in 2003.

Rising home sales likely means more business for flatbed trucking companies that haul building materials and dry van freight that haul household appliances and furniture.

New home sales account for 15% of the market and are considered a harbinger of the resale market for previously owned homes. New home sales are counted when a contract is signed.

Sales rose 19.3% in the South to a record 613,000 at an annual rate, rose 5.1% in the West to a 349,000 rate, and 5% in the Midwest to a 188,000 pace. The fell 24.3% in the Northeast to a 78,000-unit rate.

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