New home sales surge in March

(CNN)– Some real estate agents have been pretty busy over the past few weeks.

According to government data released today, sales of newly built homes in the U.S. surged during the month of March.

They climbed 8.8% last month. That’s the strongest monthly hike since December of 2022 and well above many economists’ expectations.

New home sales rose the most in the northeast by nearly 28% compared to February.

However, the same was not true for existing homes.