U.S. new home sales slumped in April, falling short of forecasts

Sales dropped 6.2% from March to an annualized rate of 622,000 units, missing economist expectations of 660,000

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The Census Bureau and Department of Housing and Urban Development said Thursday that new U.S. single-family home purchases came in at a seasonally adjusted annualized rate of 622,000 units in April, a 6.2% retreat from March. Economists had expected a rate of 660,000, according to Bloomberg.

Measured against the same month a year earlier, April's tally was down 11.3%. Sales have declined year-to-date as well, with 225,000 units........

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