WASHINGTON (AP) — U.S. new home sales plunged 15.4% in March as the coronavirus-related shutdowns that began in the middle of the month began to rattle the housing market.
The Commerce Department reported Thursday that sales of new single-family homes dropped to a seasonally adjusted annual rate of 627,000 last month after sales had fallen 4.6% in February.
The decline was in line with expectations with economists forecasting further sharp declines in coming months as the country struggles with a shutdown that has thrown millions of people out of work and disrupted wide swaths of the economy.
More news: <a href=”https://www.foxcarolina.com/news/nws-releases-new-details-on-tornado-that-tore-through-more-than-4-miles-of-northern/article_329e893a-84e6-11ea-bba1-fbd166d56e75.html” target=”_blank”>NWS releases new details on tornado that tore through more than 4 miles of northern Oconee County</a>
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