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Economy in Brief

Sales of new one-family homes rose to a seasonally adjusted annual rate of 1.228 million in March, up 8.9% from the downward revised February rate of 1.128 million. This was substantially above economists’ consensus forecast of 1.17 million.

Last month’s selling rate was 21.8% higher than in March, 2003.

There were sales increases in all of the regions except the Northeast which dropped by 24%.

The median price of a new home was $201,400, up 8.8% from a year ago.

Homes Sales (000s, AR) Mar Feb Y/Y 2003 2002 2001
New Single-Family 1,228 1,128 21.8% 1,088 977 907
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