New U.S. home sales slipped somewhat from February to March but nevertheless came in substantially higher than most economists had predicted.
According to figures released by the Commerce Department Tuesday, new sales of single-family houses came in at a seasonally adjusted annual rate of 328,000.
That rate marks a notable, 7.1 percent, drop from the revised February rate of 353,000.
However, the February revisions brought the new home sales rate for that month up significantly from the 313,000 rate initially reported.
Most economists had expected new home sales to rise from the initial February report, predicting a March sales rate of 318,000 - notably below the 328,000 rate actually reported.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.