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US New Home Sales Drop 6.2% In April As Elevated Mortgage Rates Weigh On Housing Demand
New home sales dropped 6.2% in April while inventory rose and affordability pressures persisted.
New U.S. single-family home sales fell in April as elevated mortgage rates and affordability pressures continued weighing on buyers, according to a report released Thursday by the U.S. Census Bureau.
New home sales declined 6.2% month-over-month to a seasonally adjusted annual rate of 622,000 units in April and were 11.3% below the same period a year earlier.
Source Reference
Originally published by Benzinga
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