U.S. New Home Sales Continue to Rise Despite Real Estate Investor Struggles

New home sales rose for the fourth consecutive month in March, up 9.6% from February, as buyers looked to new construction due to tight inventory of existing homes for sale and eased mortgage rates. However, sales were down 3.4% from a year ago, and the median price for a new home rose to $449,800 in March. Inventory of new homes available to buy dropped slightly from February, and there is a group of buyers who are now deciding to buy following an extra year or two of saving up, all while adjusting their expectations.