US new home sales miss expectations in April
==========

Sales of new US homes in April were weaker than expected, with a seasonally adjusted annual rate of 634,000, down 4.7% from March's rate of 665,000. The figure for March was revised lower, and April's numbers were below the consensus forecast of 680,000. Home sales have been impacted by the Federal Reserve's rate hikes and higher mortgage rates, which have made homeowners reluctant to sell. Sales of new homes in April were 7.7% lower compared to the same period last year. The median sales price was $433,500. Analysts warn of weakness in the housing market ahead.

#UsNewHomeSales #HousingMarket #Economy

https://www.legit.ng/business-economy/economy/1593846-us-home-sales-expectations-april/