New Home Sales Post Modest Improvement From Record Low, Houses For Sale At Lowest Since August 1967

``according to the census department, new home sales printed at 300,000 in March (annualized; actual number sold was a whopping 29,000, of which 59% were not even built yet), a modest beat of expectations of 280,000. The February number was revised from 250K to 270K. Therefore this was a 11.1% increase from what were virtually record lows. Refuting the better than expected headline, the underlying data was not too pretty...''