NEW HOME SALES PLUNGE IN APRIL

Key Points:

  • New home sales fell 16.6% in April from March to a seasonally adjusted 591K.
  • Consensus among economists was a 3.4% drop.
  • New home sales dropped for the fourth consecutive month.
  • March sales were also revised down to 709K from 763K.
  • The volume of new single‐family home sale are down 16.6% from the March rate and 26.9% lower than the rate a year ago.
  • The Right Facts will continue to monitor home sales.
Source