Financial News: U.S. New Home Sales Pull Back Sharply In

U.S. New Home Sales Pull Back Sharply In April

05/28/2026 - 11:35:00 (RTTNews)

(RTTNews) - After reporting a sharp increase in new home sales in the U.S. in the previous month, the Commerce Department released a report on Thursday showing new home sales pulled back by much more than expected in the month of April.

The Commerce Department said new home sales plunged by 6.2 percent to an annual rate of 622,000 in April after surging by 3.4 percent to a revised rate of 663,000 in March.

Economists had expected new home sales to slump by 2.9 percent to an annual rate of 662,000 from the 682,000 originally reported for the previous month.

The sharp pullback by new homes sales partly reflected substantial weakness in the Midwest, where new homes plummeted by 25.0 percent.

New home sales in the Northeast and South also tumbled by 12.9 percent and 9.8 percent, respectively, while new home sales in the West soared by 18.7 percent.

The report also said the estimate of new houses for sale at the end of April was 489,000, up 1.7 percent from 481,000 in March but down 2.2 percent from 500,000 a year ago.

The estimate of new houses for sale represents 9.4 months of supply at the current sales rate, up from 8.7 months in March and 9.3 months in April 2025.

The Commerce Department also said the median sales price of new houses sold in April was $422,500, 8.0 percent above $391,100 in March and 2.2 percent above $413,600 a year ago.

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