Sales of newly constructed homes gave back some of
their March gains last month, declining 5.9 percent to a seasonally adjusted
annual rate of 863,000, according to the U.S. Census Bureau and the Department
of Housing and Urban Development.  A surge
in March had taken sales to a 1.021 million unit rate, a 20.7 percent gain, but
those number also lost some luster. That estimate was downgraded to 917,000
units in Tuesday’s report. April’s rate of sales was 48.3 percent higher than
the 582,000 unit estimate in April 2020, when the nation was largely shut down
by the COVID-19 pandemic. The rate of new home sales was much lower than
predicted. Econoday analysts had forecast a rate between 915,000 and 1.04
million units. Their consensus was 955,000.

 

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