Sales of new single-family homes gained 3.3% to a 526,000 seasonally adjusted annual rate in April, according to data released by the Commerce Department yesterday.
The April figure came after a downwardly revised 509,000 rate in March, an 11.0% drop, originally reported as an 8.5% decrease to 526,000. IFR Markets’ poll of economists had predicted a 522,000 sales level for April.