Ambiguous Abodes

April new home sales came in at a decent seasonally adjusted annual rate of 673,000. New sales each month this year have been above their 2018 levels and new home sales are now at levels last seen in the mid-1990s. However, at 1,235,000, April new starts are weak and for each month this year starts have been below their 2018 heights and are at levels of the early 1990s.

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