U.S. New Homes Sales Plummet 8.5% in March to Lowest Level Since 1991

New home sales in the U.S. were down for the fifth consecutive month in March, falling by 8.5% to 526k, much lower than the 580k level expected by economists, and setting a new low since October 1991. Inventories soared from already-worrying levels. Regionally, new home sales fell across the board... ...