Sales Of New Homes Plunged In March
DAVID GREENE, HOST:
NPR's business news begins with a housing drop.
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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 record $290,000. A thaw might be occurring now that we're into April. Some homebuilders say things are indeed looking up. Transcript provided by NPR, Copyright NPR.