"New Home Sales Plummet Amid Record High Prices"
TL;DR Summary
New home sales dropped 4.7% in April 2024, with significant negative revisions to previous months' data. The median sales price was $433,500, and the inventory represents a 9.1-month supply. High mortgage rates and record prices are impacting affordability, and existing-home sales have also declined.
Topics:business#census-department#economic-indicators#housing-market#mortgage-rates#new-home-sales#real-estate
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