Tuesday, May 26, 2015

New Home Sales Rose 6.8% in April

Sales of new single-family houses in April rose to a seasonally adjusted annual rate of 517,000 according to the U.S. Census Bureau and Department of Housing and Urban Development. The April rate is 6.8% above the revised March rate of 484,000 and 26.1% above the year-ago rate of 410,000.

New home sales in two of the four regions increased this month. The Midwest increased 36.8% and the South rose 5.8%. Sales in the Northeast and the West declined 5.6% and 2.3%, respectively.

The median sales price of new homes sold in April was $297,300, up 4.1% from March. The average price was $341,500, down 0.5% from March.

At the end of April, there were an estimated supply of 4.8 months at the current sales rate.

Read the Census report.

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