New Home Sales Rise 1.6% in March

New home sales rose 1.6% in March, the Commerce Department said Tuesday.

Sales rose to a 417,000 annual rate from 411,000, Commerce said.

The March rate was below economists’ median forecast of 416,000, Bloomberg News reported.

Purchases rose 20.6% in the Northeast and rose 19.4% in the South.

New home purchases were 17.6% higher in March than the same time last year, Bloomberg reported.

Rising home sales can mean more business for flatbed trucking companies, which haul building materials, and for dry van freight carriers, which haul household appliances and furniture.