U.S. New Home Sales Rose 11.1% In March
(For March 2011)
U.S. new home sales rose 11.1% to 300.000 SAAR; Consensus was at 280.000 SAAR, prior reading (revised upward 20.000) was at 270.000 SAAR.
Month of supplies fell from 8.2 to 7.3 months. Backlog of unsold new homes is at 182.000.