Photo: Courtesy of Sotheby’s Realty
UPDATE:New home sales increased at a faster rate than expected in April, gaining 3.3 per cent to annualized rate of 343,000.
Economists had forecast sales would improve at slightly slower pace of 2.1 per cent.
Technical issues at the U.S. Census have delayed the full new home sales report from hitting the market.
Minutes away from the key data point of the day: New Home Sales.
Projections are for sales to increase 2.1 per cent in April to an annualized pace of 335,000 units.
That would reverse March’s 7.1 per cent decline to a 328,000 unit pace.