New home sales plunge to lowest level in 16 1/2 years
Thursday April 24, 11:13 am ET
By Martin Crutsinger, AP Economics Writer
New home sales plunge to lowest level in 16 1/2 years, prices drop by largest amount in 38 years
WASHINGTON (AP) — Sales of new homes plunged in March to the lowest level in 16 1/2 years as housing slumped further at the start of the spring sales season.The median price of a new home in March, compared with a year ago, fell by the largest amount in nearly four decades.
