New single-family home sales have grown to a seasonally adjusted rate of 417,000 units, a 1.5% increase according to the Commerce Department. New home inventory has also seen an increase, growing 2.0% with a total of 153,000 units. Sales have jumped 18.5% from this time last year while prices have also experienced a 3.0% increase. Experts expect home prices to continue to rise as inventory remains below average, but is expected to inch closer to average levels as the spring season continues. More here
