Sales of new homes in the US in April fell 16.6% compared with the previous month and amounted to 591 thousand in annual terms, the country’s Department of Commerce said. This is the worst figure since April 2020. According to the revised data, 709,000 houses were sold in March, while the figure of 763,000 was previously announced. Analysts, on average, expected a decline in sales of new buildings last month from the previously announced level in March to 750,000, Trading Economics reports. Compared to the same month in 2021, new home sales fell by 26.9%. The median price of a new home in the US last month was $450.6 thousand compared to $376.6 thousand in April last year. The number of new buildings for sale at the end of last month was 440,000. At the current rate of sales, it would take 9 months to sell all new buildings in the US. Experts traditionally believe that a balanced market corresponds to an indicator of about 6 months. New properties make up about 10% of the US housing market, but new home sales are recorded as soon as a contract is signed, making them a more relevant indicator of the state of the market. Source: FINMARKET.RU

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