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- U.S. new home sales decline 5.9 percent in April
U.S. new home sales decline 5.9 percent in April
The
U.S. Commerce Department announced on Tuesday that the sales of new
single-family homes fell 5.9 percent m-o-m to a seasonally adjusted annual rate
of 863,000 units in April.
Economists
had forecast the sales pace of 970,000 last month.
March’s
sales pace was revised down to 917,000 units from the originally reported 1,021,000
units.
According
to the report, new home sales in the South, the largest area, plunged 8.2 percent
m-o-m in April, while sales in the Northeast tumbled 13.7 percent m-o-m and
those in the Midwest dropped 8.3 percent m-o-m. In the meantime, new home sales
in the West rose 7.9 percent m-o-m in April.
The report also showed that the median sales price increased to $372,400 from $310,100 a year earlier.
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