While the seasonally adjusted pace of new single-family home sales across the country slipped 1.5 percent from a revised 519,000 in February to 511,000 in March, it’s now running 5.4 percent higher versus the same time last year (485,000) as opposed to 6.1 percent lower on a year-over-year basis the month before.

The annual pace of new single-family home sales as measured in March has average 652,000 over the past fifty-four years, 27.6 percent higher than last month, and peaked at 1,328,000 in 2005.

In terms of inventory, the number of new single-family homes for sale across the county is now 246,000, up 1.3 percent from the month before, 20.0 percent higher versus the same time last year, and the highest as measured in March since 2009.

And having jumped 21.1 percent from January to February, the pace of new single-family home sales in the West dropped 23.6 percent from 140,000 in February to 107,000 in March, which is 20.7 percent lower versus the same time last year.

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