Sales of new U.S. single-family homes surged to more than a three-year high in April as builders lowered prices to attract buyers, but rising mortgage rates and economic uncertainty remained headwinds for the housing market.

US new-home sales rose unexpectedly in April to the highest level since February 2022, likely helped by builder incentives aimed at alleviating affordability challenges.

Maine home sales and prices went up last month. According to Maine Listings, the median price for a single-family home in April was $400,000, an increase of about 4.4%. We’re told realtors reported 942 sales last month.