WASHINGTON (AP) — Sales of new homes fell 5.9% in April, suffering a setback after sales had surged in March. Sales dropped to a seasonally adjusted annual rate of 863,000 last month, the Commerce Department reported Tuesday. That followed a revised sales pace of 917,000 in March. The median price of a new home sold last month was $372,400, up from $310,100 in April 2020. The report on new home sales follows a report last week that sales of existing homes fell for a third straight month in April, dropping 2.7% to a seasonally adjusted annual rate of 5.85 million units. Economists see the declines as temporary setbacks with strong demand and low inventories expected to keep pushing sales higher this year.
US new home sales fell 5.9% in April after big March gain
