US new home sales rose to their highest level since March 2022 in April

The data showed that new home sales in the United States rose 4.1% to a seasonally adjusted annual rate of 683,000 units in April, the highest level since March of 2022, and the pace of March sales was revised down to 656,000 units instead of the 683,000 reported. about it previously. On an annual basis, new home sales rose 11.8% in April, single-family building permits rose to a seven-month high in April, and the average price on a 30-year mortgage was in a range of 6.09% to 6.73% this year after hitting peaking at 7.03% in late 2022.

The median new home price fell 8.2% to $420,800 in April compared to the same period last year. There were 433,000 new homes on the market at the end of April, up from 432,000 in March. At the pace of April sales, it will take 7.6 months to clear the supply of Homes on the market were down from 7.9 for the month in March