While a report released by the Commerce Department on Friday showed a modest decrease in new home sales in the month of March, the annual rate of new home sales came in well above economist estimates due to an upward revision to February sales.

The report showed that new home sales fell 0.6 percent to an annual rate of 356,000 in March from a revised February rate of 358,000. Economists had expected new home sales to remain unchanged compared to the 337,000 originally reported for the previous month.

For comments and feedback: contact editorial@rttnews.com