Pricey Pads

While new home sales fell in March, they didn’t exactly plunge. The actual number of new homes sold last month was 36,000 down from a whopping 37,000 in February. While bad weather and lack of lots and credit are part of the reason, so are prices. The March median new home price was a staggering $290,000, up from $260,000 the month before! To sell more new houses prices must fall.

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