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U.S. New Home Sales Fall 1.5% To 662,000 Rate In April

Kitco News

Editor's Note: Updating earlier story with more details from report.

(Kitco News) - Sales of new U.S. single-family homes fell by 1.5% in April to a seasonally adjusted and annualized pace of 662,000.

Consensus estimates compiled by various news organizations called for sales to be between 677,000 and 682,000. The Commerce Department revised sales for March to 672,000 from the originally reported 694,000.

Last month’s sales were up 11.6% from the April 2017 tally of 593,000.

The median sales price of new houses sold last month was $312,400, while the average sales price was $407,300. At the current rate of sales, the government estimated that there is an existing inventory of 5.4 months.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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