Housing will drive economy this year

Economists agree that the rebounding housing market will be a significant factor in the improving economy. Sales of new homes in March rose +1.5% to a seasonally adjusted rate of 417,000 units. This is an +18.5% increase over last year's 352,000 units. The sales pace considered healthy ins 700.000 units monthly. The median price of a new home was $247,000 up +3.0% from a year ago.