U.S. New Home Sales Fall in April

New home sales in the United States declined during April, dropping by 5.9% to a seasonally adjusted annual rate of 863,000 units, official data showed on Tuesday.

Meanwhile, the reading of March was revised downwards to 917,000 units from the initially estimated 1.021 million units, according to the U.S. Department of Commerce.

On a yearly basis, sales increased by 48.3% last month, while the median new house price grew by 20.1% to $372,400.