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New home sales in the USA at 2-year low

New home sales in the US fell to 591,000 in April, down 16.6 percent month on month, the lowest level since April 2020.

New home sales in the USA at 2-year low

The US Department of Commerce announced new home sales statistics for April.

Accordingly, new home sales in the country decreased by 16.6 percent in April compared to the previous month. In this period, 591 thousand new houses were sold in the USA, adjusted for seasonal effects.

New home sales, which fell to the lowest level recorded since April 2020, were expected to be 750 thousand. New home sales decreased by 10.5 percent in March, amounting to 709 thousand.

New house sales decreased by 26.9 percent in April compared to the same month of the previous year.

The median selling price of new homes that went on sale in the US last month, on the other hand, increased by about 20 percent compared to the previous year and rose to $450,600.

Analysts said that rising construction and housing loan costs are putting pressure on buyers' purchasing power.

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