New-home sales unexpectedly increase to 1-year high ...Middle East

By Reade Pickert | Bloomberg US new-home sales unexpectedly increased in March to the highest level in a year, suggesting an easing in mortgage rates is helping the housing market find some footing. Purchases of new single-family homes increased 9.6% to an annualized 683,000 pace last month from a downwardly revised 623,000 rate in February, government data showed Tuesday. The sales rate exceeded all but one estimate in a Bloomberg survey that had a median projection of 632,000. READ MORE: 1,529 homes proposed for Westminster, Aliso Viejo shopping centers With many homeowners hesitant to list their homes in the current rate environment, prospective buyers have increasingly turned to the new-

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