Sales of newly built single-family homes in the United States soared in March despite mortgage rates remaining elevated that month. New home sales, which make up about 10% of the market, jumped 8.8% last month to a seasonally adjusted annual rate of 693,000, according to government figures released Tuesday. That trounced the 670,000 rate projected by economists, according to a FactSet poll, and was the strongest monthly increase since December 2022. Sales of new homes increased across the country last month, rising the most in the Northeast region by a robust 27.8% from February. Meanwhile, sales of existing homes, ... (full story)