April sees surge in new home sales, Zillow bullish on housing markets.

Sales of new U.S. homes rose 4.1% in April to a seasonally adjusted annual rate of 683,000 units, marking the strongest pace of sales since March 2022, as limited resale inventory helped to jolt buyer demand for new construction. The median price for a new home tumbled to $420,800 in April, marking the biggest decline since April 2020. The surge in new home sales likely contributed to the higher-than-expected increase in confidence among builders in the housing market this month.