Sales Of New Homes Plunged In March
DAVID GREENE, HOST:
NPR's business news begins with a housing drop.
(SOUNDBITE OF MUSIC)
GREENE: Sales of new homes plunged in the month of March, to the lowest pace since last July. The harsh, never-ending winter may have been partly to blame, but the sluggish economy and the fact that it's still tough to get a mortgage made things especially difficult for some buyers.
There was also sticker shock, as the median price of new homes hit a record $290,000. A thaw might be occurring now that we're into April. Some homebuilders say things are, indeed, looking up.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.