US New-Home Sales Increased in March to Fastest Pace of Year

US new-home sales rose in March by more than forecast as the median selling price slid to a more than four-year low and builders offered incentives.

New single-family home sales increased 7.4% from February to an annualized 682,000 pace, the fastest this year, according to government figures out Tuesday. The median estimate in a Bloomberg survey of economists was for a 652,000 pace.