According to the Census Bureau of the US Department of Commerce, sales of new homes in the United States in April fell by 5.9% compared with the revised figure in March – to 863 thousand.
Analysts polled by the portal DailyFX expected a decrease of 5% compared to the initial figure of the previous month – to 917 thousand. The March figure was revised up to 846 thousand from 1.021 million.
Compared to April 2020, when the indicator was 582 thousand, sales of new homes in the United States in the reporting month showed an increase of 48.3%. The volume of New Home Sales is an important indicator of the state of the real estate market and the economy as a whole. Its increase leads to an increase in the spending of new homeowners on furniture and housing services, which, in turn, stimulates the demand for goods, services, and labor. In addition, more than half of all construction in the United States is accounted for by the housing stock. Thus, the dynamics of residential real estate sales along the chain are transmitted to other sectors of the economy.