New home sales fall in April – HBS Dealer

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Purchases of newly built single-family homes-a relatively narrow slice of all U.S. home sales-fell 1.5% to a seasonally adjusted annual rate of 662,000 in April, the Commerce Department said.

Desperate for a housing rebound. A separate report from the National Association of Realtors on Tuesday showed that sales of existing homes dropped 3.8% in April, slightly more than expected. The average price of new homes sold in May was $266,400, according to the report. That was up from $265,000 in April.

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WASHINGTON (MarketWatch) – Sales at U.S. retailers fell in March for the second month in a row, marking the worst two-month stretch in two years. among auto dealers, gas stations and, to a lesser.

Meanwhile, Home Builders Research reported builders closed 2,293 new-home sales in the first quarter, down 4.6 percent from a year earlier. The early-year slowdown does not necessarily mean sales.

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 · New home sales in the South, which accounts for the bulk of transactions, declined 7.7 percent in June. Sales fell 5.2 percent in the West and tumbled 13.4 percent in the Midwest. They surged 36.8 percent in the Northeast to a 10-1/2-year high, however. The median new house price fell 4.2 percent to $302,100 in June from a year earlier.

New Home Sales Fall 3.4 Percent in August. "However, we may see more volatility in the next few months as communities affected by the recent hurricanes experience construction delays and other economic disruptions." The inventory of new homes for sale was 284,000 in August, which is a 6.1-month supply at the current sales pace.

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