Steel Markets
May 23, 2018
New Home Sales Decline in April
Written by Sandy Williams
Sales of new homes softened in April after a 4 percent jump in March and a relatively strong first quarter. Sales of new single-family homes dipped 1.5 percent in April to a seasonally adjusted annual rate of 662,000, according to Commerce Department data. New home sales still exceeded the year-ago rate by 11.6 percent.
The dip in April was less than the 2.0 percent decline expected by some economists. New single-family homes represent about 11 percent of housing market sales.
