Sales of new single-family houses in April were at a seasonally adjusted annual rate of 569,000, an 11.4 percent decrease compared with the March rate of 642,000 but a 0.5 percent increase compared with April 2016’s rate of 566,000, according to the U.S. Census Bureau.
"New home sales were strong in the first three months of 2017, so some pullback in April is to be expected," said Robert Dietz, chief economist with the National Association of Home Builders, in a statement. "However, our forecast calls for new home sales to increase throughout the year, buoyed by rising household formations, continued job growth and tight existing home inventory."
Home sales decreased 4 percent in the South, 7.5 percent in the Northeast, 13.1 percent in the Midwest and 26.3 percent in the West.
