America

Sales Of New Homes Rose 11.1 Percent In March

Sales did move up, but the pace remains weak. i i

hide captionSales did move up, but the pace remains weak.

Scott Olson/Getty Images
Sales did move up, but the pace remains weak.

Sales did move up, but the pace remains weak.

Scott Olson/Getty Images

Sales of newly built homes rose 11.1 percent in March from February, to a seasonally adjusted annual rate of 300,000, the Census Bureau and Department of Housing and Urban Development report.

Still, the pace is 21.9 percent below that of March 2010.

Bloomberg News says that in March, the housing industry "strained to recover" from its hard times. And as it writes, "the market for new homes faces competition from a glut of foreclosed properties that may keep prices depressed this year, discouraging new construction."

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