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March new-home sales beat forecast, rise 1.5%

Posted: April 24, 2013 at 2:11 a.m.

Construction crews work on new homes being built in San Ramon, California, U.S., on Friday, April 12, 2013. New-home construction in the U.S. jumped more than forecast in March as multifamily projects climbed to the highest level in more than seven years. Photographer: David Paul Morris/Bloomberg

Purchases of new U.S. homes rose in March, capping the best quarter for the industry since 2008 and providing more evidence the housing recovery will be sustained.

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Business, Pages 23 on 04/24/2013

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