WASHINGTON (AP) — Gross sales of latest houses fell 5.9% in April, struggling a setback after gross sales had surged in March.
Gross sales dropped to a seasonally adjusted annual fee of 863,000 final month, the Commerce Division reported Tuesday. That adopted a revised gross sales tempo of 917,000 in March.
The median worth of a brand new residence offered final month was $372,400, up from $310,100 in April 2020.
The report on new residence gross sales follows a report final week that gross sales of current houses fell for a 3rd straight month in April, dropping 2.7% to a seasonally adjusted annual fee of 5.85 million items.
Economists see the declines as non permanent setbacks with sturdy demand and low inventories anticipated to maintain pushing gross sales larger this 12 months.