New home sales see April uptick

BALTIMORE — U.S. new home sales ticked up 0.6% in April, a surprising gain amid the coronavirus outbreak that hints at the relative health of potential buyers.

The Commerce Department reported Tuesday that sales of new single-family homes rose slightly to a seasonally adjusted annual rate of 623,000 last month. This followed a decline of 13.7% in March as businesses and schools were closed in an effort to contain the virus. Over the past 12 months, sales are down 6.2%.

Sales of homes already under construction fell slightly, while sales of those already completed declined 13.6% from a year ago.

The median price for a new home sold last month was $309,900, dropping 8.6% from a year ago.