KEY POINTS

Single-family home sales increased 5.8 percent to a 621,000 annualized pace (median forecast called for a 584,000 rate)
The median sale price of a new house rose 1.2 percent from March 2016 to $315,100
Supply of homes shrank to 5.2 months from 5.4 months; there were 268,000 new houses on the market at the end of March

Rise in demand was led by a 16.7 percent gain in the West, which had the fastest sales pace since 2007; the South and Northeast also saw gains, while purchases slowed in Midwest
The February reading was revised to a 587,000 pace from a previously estimated 592,000
Commerce Department said there was 90 percent confidence that the change in sales last month ranged from a 9.7 percent drop to a 21.3 percent increase, underscoring the volatility of the data
New-home sales account for about 10 percent of the residential market and are tabulated when contracts are signed; existing-home sales, which rose 4.4 percent last month, are based on contract closings

Mastura Roberts
(702) 919-5400
offers@greatlasvegashomes.com

Team Leader, The Tonnesen Team
Berkshire Hathaway HomeServices, Nevada
3185 St Rose Pkwy #100 Henderson, NV 89052

With over 30 years of experience helping families call Las Vegas "home!"

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