U.S. residential sales dip in March

WASHINGTON — Sales of new single-family houses in March 2014 were at a seasonally adjusted annual rate of 384,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 14.5% below the revised February rate of 449,000 and is 13.3% below the March 2013 estimate of 443,000. The median sales price of new houses sold in March 2014 was $290,000; the average sales price was $334,200. The seasonally adjusted estimate of new houses for sale at the end of March was 193,000.