New home sales, as reported jointly by the Census Bureau and HUD, came in at 328,000 for March (on a seasonally-adjusted annual basis).
The immediate take is that the March data is down 7.1% from the revised February level of 353,000. But the February figure was revised up 13%, so that March figure is above the previous estimate for February.
In fact, the new February estimate is the highest level since the end of the home buyer tax credit in spring 2010.
New home sales estimates have one of the largest statistical variances of any of the major housing data.