New home sales soared 26.9% in March to a seasonally adjusted annual rate of 411,000, the largest monthly increase in 43 years, rebounding from a record low in February, the Commerce Department reported today.

The March sales gain ended a four-month streak of new home sales declines, which began in November. Sales in February were revised higher to 324,000 from 308,000 reported last month, but it was still a record low for monthly new home sales. January sales were also revised higher to 338,000 from 315,000.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.