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New home sales plunge 15.4% in March as virus hits
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WASHINGTON – U.S. new home sales plunged 15.4% in March as a winding down in the middle of the month due to the coronavirus began to rattle the breadth of the housing market.
The Commerce Department reported Thursday that sales of new single-family homes dropped to a seasonally adjusted annual rate of 627,000 last month after sales had fallen 4.6% in February.
The decline was expected, though economists say it will grow much worse as the country struggles with a shutdown that has thrown millions of people out of work and disrupted wide swaths of the economy.
The report said that the median price for a new home sold in March was $321,400, down 2.6% from a median price of $330,100 in February.
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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