New Home Sales Slide
On the heels of earnings misses from DR Horton and PulteGroup, the US Commerce Department reported more disappointing news for the new home market. Sales for new single-family homes dropped 11.4% to 481,000 in March. Although the sector has struggled to find strong upward momentum, new single-family home sales are still up about 19% over the last year.
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Sales volume for new and existing homes continues to struggle to find upward momentum. With investors leaving the market in the face of high prices and “normal” buyers still struggling
