US New-Home Sales Declined in April, Restrained by High Rates
- Purchases fell 4.7% in April to an annualized rate of 634,000
- Median selling price rose 3.9% from year ago to $433,500
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Purchases of new homes in the US declined last month as buyers were deterred by high prices and mortgage rates.
New single-family home sales decreased 4.7% to a 634,000 annual pace last month, according to government data released Thursday. Purchases in the prior months were revised down. The median estimate of economists surveyed by Bloomberg was 678,000.