The new home price increased 3.3 per cent from February to $201,668, and is up 1.6 percent from
$198,400 from a year ago in the same month.

The resale median was $103,000, an increase of $2,200 from February but down from $107,000 a
year ago. Prices for non-distressed homes rose to $105,000 for the third straight month.

"Listings are down and the foreclosure volume took a nosedive - the new home housing market remains
in a diminished state with just 352 sales in March." That's a fraction of the 1,600 sales a month during
the boom years.

Not only is the new home sector showing signs of stability, the resale market continues to adjust to
new market realities. There were 4,773 resales during the month, a 9.1 % decrease from March 2011, with
54% of closings in cash.

It appears that some new developers are feeling more optomistic about demand as residential permits grew
to 514 in March, more than double the previous month and 43.2 % more than a year ago.

It's true that while 514 permits is not a "game changer" but it does reflect the highest permit total since March 2010 when 700 permits were pulled.