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US new-home sales post slight gain in April

by ace
US new-home sales post slight gain in April

BALTIMORE (AP) – New home sales in the U.S. rose 0.6% in April, a surprising gain amid the coronavirus outbreak that indicates the relative health of potential buyers.

The Commerce Department reported on Tuesday that sales of new single-family homes rose slightly to a seasonally adjusted annual rate of 623,000 last month. This followed a 13.7% decline in March. In the last 12 months, sales fell 6.2%.

COVID-19 halted what appeared to be signs of growth in the housing market. But trapped in social isolation, buyers decided last month to buy houses that have not yet been built – a category that rose 26.5% from March and represented all sales growth in April.

The average price of a new home sold last month was $ 309,900, down 8.6% from the previous year.

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