U.S. new-home sales drop from 11-year high as prices increase

NEW-HOME SALES fell from an 11-year high in April, a sign that the housing market in the United States is softening. / BLOOMBERG NEWS FILE PHOTO/SCOTT MCINTYRE
NEW-HOME SALES fell from an 11-year high in April, a sign that the housing market in the United States is softening. / BLOOMBERG NEWS FILE PHOTO/SCOTT MCINTYRE
NEW YORK – Sales of new homes in the United States cooled in April from an 11-year high amid a surge in prices, adding to signs of softness in housing at the start of the quarter. Single-family home sales fell 6.9% to a 673,000 annualized pace, close to economist estimates following an upwardly revised March…

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