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U.S. New Home Sales Rise 4% in March

The Commerce Department reported new home sales shot up 4% last month, in part driven by a substantial surge of West Coast home buyers. The seasonally-adjusted annual rate hit 694,000 in March.

Sales were also adjusted to higher figures for both January (644,000) and February (667,000). Those revised numbers translate into Q1 2018 sales that are 10.3% higher than a year ago.

The improved economic outlook was credited for driving the sales of new homes, and those gains have not been slowed by rising 30-year mortgage rates, which have reached the highest point they’ve been since early 2014.

Sales jumped 28.3% in the West for March, and were slightly up in the South. New home sales fell in the Midwest and plunged in the Northeast.

The National Association of Realtors also reported listings for existing homes dropped to the lowest levels on record for March.


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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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