Washington (AP) — New home sales fell 5.9% in April and suffered a setback after a surge in sales in March.
The Commerce Department reported on Tuesday that sales fell to a seasonally adjusted annual rate of 863,000 last month. This follows the revised sales pace of 917,000 in March.
Median new homes sold last month were $ 372,400, up from $ 310,100 in April 2020.
The new home sales report follows last week’s report, with existing home sales declining for the third straight month in April, down 2.7% to a seasonally adjusted annual rate of 5.85 million units.
Economists expect this decline to boost sales again this year as a temporary recession with strong demand and low inventories.
New home sales in the US fell 5.9% in April after a significant increase in March.
Source link New home sales in the US fell 5.9% in April after a significant increase in March.