New home sales tumble in April after soaring to 10-year high in March

• May 23, 2017
• realestatelife
• Business & Markets, Real Estate Finance

Sales of newly-constructed homes stumbled in April, as builders retreated after a March surge that marked the strongest selling pace in a decade. New home sales ran at a seasonally adjusted annual rate of 569,000. That was well below the consensus forecast of a 610,000 annual pace, but was offset by sharp upward revisions to data from prior months.