U.S. new-home sales climbed to their highest level since February 2022, surging 3.3% to a 743,000 annual rate since last year. According to data released Friday by the U.S. Census Bureau and the Department of Housing and Urban Development,

U.S. existing home sales unexpectedly fell in April despite a temporary drop in mortgage rates and increased supply, and could remain lackluster this year amid rising economic uncertainty.

Previously owned homes were sold in April at a seasonally adjusted annual rate of 4 million, below consensus estimates that called for a rise to 4.1 million.