US new residence gross sales fell 5.9% in April after huge March achieve

Gross sales of recent properties fell 5.9% in April, struggling a setback after gross sales had surged in March

WASHINGTON — Gross sales of recent properties fell 5.9% in April, struggling a setback after gross sales had surged in March.

Gross sales dropped to a seasonally adjusted annual charge of 863,000 final month, the Commerce Division reported Tuesday. That adopted a revised gross sales tempo of 917,000 in March.

The median value 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 properties fell for a 3rd straight month in April, dropping 2.7% to a seasonally adjusted annual charge of 5.85 million items.

Economists see the declines as short-term setbacks with sturdy demand and low inventories anticipated to maintain pushing gross sales increased this 12 months.

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