Washington â¢ U.S. sales of new homes last month registered the biggest drop in more than two years.
The Commerce Department says new-home sales skidded 11.4 percent in April to a seasonally adjusted annual rate of 569,000. It was the biggest monthly drop since March 2015.
Economists had expected a more modest retreat from March sales of 642,000, which were the highest since October 2007. Sales in April were still up 0.5 percent from a year earlier.
Sales fell in every region, led by a 26.3 perce...
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