Investing.com – U.S. new home sales unexpectedly fell in March, dampening optimism over the health of the housing market, official data showed on Monday.
The U.S. Commerce Department said new home sales declined by 1.5% to a seasonally adjusted 511,000 units last month.
New home sales in February were revised to show a 0.4% decline to 519,000 units, from the prior reading of a 2.0% gain.
Analysts had expected a 1.0% rise from the initial February number to a total of 520,000 units.