New homes in the U.S. were sold at an annual rate of 328,000 in March, slightly above market forecasts. Yet sales fell by 7.1% last month because purchases of new homes in February were revised sharply higher, according to Commerce Department data released Tuesday. In February, the sales rate was revised up to 353,000 from an original reading of 313,000. Economists surveyed by MarketWatch expected new home sales in March to total 325,000 on a seasonally adjusted basis. The median sales price, meanwhile, fell 1% last month to $234,500. The supply of new homes on market dipped to 5.3 months from 5.4 months in February (full story)