New home sales rise in March
The monthly increase of 8.9 percent was the highest since June 2003.
By region, new home sales soared by 19.3 percent in the South, hitting a record rate of 613,000. But in the Northeast, sales plummeted by 24.3 percent to a rate of 78,000. The West posted an increase of 5.1 percent to a pace of 349,000, and in the Midwest, sales rose by 5 percent to a pace of 188,000.