Politico, May 24, 2022, ‘Recession warning’: Sales of new homes plunge in April
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Sales of new single-family homes plummeted in April as rising mortgage interest rates and skyrocketing house prices took a toll on the market.
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New-home sales fell 16.6 percent last month from the revised March figures, according to Census Bureau data released Tuesday. Sales were down 26.9 percent from April 2021.
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“The April drop for new home sales is a clear recession warning,” said Robert Dietz, chief economist for the National Association of Home Builders.
