New home sales jumped 8.9% in March to set a new monthly record, and it is beginning to look like 2004 could be a record year for home sales.The U.S. Census Bureau reported that new single-family home sales rose from a seasonally adjusted annual rate of 1.128 million in February to 1.228 million in March. With a blistering sales pace in the first quarter, economists at the National Association of Home Builders now believe 2004 will at least match last year's record of 1.086 million. "It could easily be higher," NAHB economist Michael Carliner said, even though he said he expects sales to slow in the second half and interest rates to rise. He noted that the actual sales number (not seasonally adjusted) in March was exceptionally strong.
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