U.S. new home sales drop 11.4% in April, the most in two years

U.S. sales of new homes last month registered the biggest drop in more than two years.

The Commerce Department said Tuesday that new home sales skidded 11.4% in April to a seasonally adjusted annual rate of 569,000. It was the biggest monthly drop since March 2015. Economists had expected a more…

Source: LA Real Estate

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