New Home Sales Continue to Improve on Annual Basis

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Posted To: MND NewsWire

New home sales dipped in April, a reversal that was expected by many analysts . The U.S. Census Bureau and the Department of Housing and Urban Development said sales of newly constructed homes during the month were at a seasonally adjusted annual rate of 662,000 units. This is 1.5 percent below the revised rate of 672,000 units in March. The March estimate was revised down from 694,000 units, erasing much of that month’s reported 4 percent gain. Despite the downturn, sales are now running 11.6 percent above the April 2017 estimate of 593,000 sales. In March the year-over-year gain was reported at 8.8 percent. Analysts polled by Econoday had expected sales to be in the 650,000 to 692,000 range. The consensus was 677,000. On a non-seasonally adjusted basis there were 64,000 new homes sold in…(read more)

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