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New home sales in the US fell 5.9% in April after a significant increase in March.

A carpenter will adjust the beam of the wall frame on Tuesday, March 16, 2021 in a new residential area in Madison County, Mississippi. US home construction fell sharply in April, but fell after homes rose. To the highest level in 15 years. The Commerce Department said on Tuesday, May 18, construction fell 9.5% in April, reaching a seasonally adjusted annual rate of 1.57 million units. April% is an annual rate of 1.76 million units, a good sign that the April construction decline will be temporary. (AP Photo / Rogelio V. Solis)

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.

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