New home sales rose for the fourth consecutive month in March as mortgage rates fell steadily following the commercial banking crisis, according to Census Bureau data released on Tuesday. Sales of new single-family homes increased by 9.6 percent above the revised rate from a month earlier to a seasonally adjusted rate of 683,000 units. Sales ticked up in the Northeast, Midwest and West. Even so, sales were down 3.7 percent from 707,000 at the same point last year. The seasonally adjusted number of new homes for sale at the end of March was 432,000, which means the supply of new homes would last nearly eight months at the current sales rate. Meanwhile, existing home sales, which
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