US new home sales register sharp slump in April
Ferguson Enterprises Inc. (DI)
14,010.00p
17:15 03/01/25
-1.06%
-150.00p
New home sales in the US fell by far more than economists had anticipated in April.
Support Services
10,511.73
16:54 03/01/25
-0.81%
-85.97
In seasonally adjusted terms, according to the Department of Commerce, new single-family home sales dropped at a month-on-month pace of 16.6% to reach an annualised pace of 591,000.
Economists had penciled-in a dip from 763,000 (Revised: 709,000) to 750,000.
Versus a year earlier, new single-family home sales were 26.9% lower on the month.
The inventory of homes available for sale meanwhile rose to the equivalent of nine months' worth of sales, up from 6.9.
Average sale prices for a home however jumped from $522,500 to $570,300.