CFAH

The seasonally adjusted rate of new single-family home sales in the U.S. fell 11.4 percent from March to April to a rate of 569,000 annual sales and is now running a nominal 0.5 percent above the pace of sales at the same time last year.

Last month’s pace of sales was 12.5 percent below the long-term average as measured in April (650,000) and 54.8 percent below the record-high April pace of 1,260,000 sales as set in 2005.

At the same time, the number of new single-family homes for sale across the county ticked up another 1.5 percent to 268,000, which is the most available inventory since the third quarter of 2009 and 11.2 percent higher versus the same time last year.

In the West, the pace of new single-family home sales fell 26.3 percent in April and was 13.7 percent lower versus the same time last year.

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