U.S. New Home Sales Dive 27 Percent Year-Over-Year in April

Source: World Property Journal — 

According to the National Association of Home Builders, in a further sign of a housing slowdown, new home sales posted a double-digit percentage decline in April 2022, falling to their weakest pace in two years, as rising mortgage interest rates and worsening affordability conditions continue to take a toll on the housing market.

Sales of newly built, single-family homes in April fell 16.6% to a 591,000 seasonally adjusted annual rate from a downwardly revised reading in March, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. New home sales are down 26.9% compared to April 2021.