New home sales rise, but housing market likely to slow
1. New home sales rise, but housing market likely to slow
WASHINGTON - Americans bought more new homes in April than they had in the previous two
months, but sales are slowing from their pace a year http://har.com/ ago.
The Commerce Department says sales of new homes rose 6.4 percent last month to a seasonally
adjusted annual rate of 433,000, slightly above the level that economists had forecast. That
compares with a revised annual pace of 407,000 in March, when purchases fell 6.9 percent. Buying
had dropped 4.4 percent in February, in part because of snowstorms.
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What's behind the slowdown in the housing market?
Two reports due to come out should bring additional clarity to conditions in the housing market.
Also, economists will be interested in what was ...
April sales surged in the Midwest and edged up in the South. Home-buying was flat in the West and
fell in the Northeast.
New-home sales have declined 4.2 percent over the past 12 months. The median sales price fell a
slight 2.1 percent during the past month to $275,800, the largest year-over-year decline since June