U.S. new home sales plummet in April

Sales of newly built homes in the U.S. sank in April to a COVID-era low, according to the U.S. Census Bureau. They were at a seasonally adjusted annual rate of 591,000 units, down 16.6 percent below the previous month’s estimate of 709,000. However, new housing activity remains 14.6% above April of 2021.