JRE - New Single-Family Home Sales Plunged In April As Prices And Mortgage Rates Continue To Rise

• The April drop follows a 10.5 percent decline in March, a 4.7 percent fall in February, and a 1.0 percent drop in January.
• Sales of new single-family homes were down in all four regions of the country in April.
• The months’ supply is at a very high level by historical comparison and is approaching peaks associated with prior recessions.

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