New Home Sales Increased 6.8% In April

Posted by Patrick Barnard on May 26, 2015 No Comments
Categories : Residential Mortgage

Sales of new single-family homes in April were at a seasonally adjusted annual rate of 517,000 units, an increase of 6.8% compared with the revised March rate of 484,000 units and 26.1% above the April 2014 estimate of 410,000 units, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.

The median sales price of a new home sold in April was $297,300; the average sales price was $341,500.

As of the end of April, there were about 205,000 new units available for sale – a 4.8-month supply at the current sales rate.

‘Sales are moving forward and our builder members are telling us they are starting to see more activity as more buyers get off the fence and enter the marketplace,’ says Tom Woods, chairman of the National Association of Home Builders (NAHB), in a statement.

‘Following an unusually low sales report in March, today's numbers are consistent with other data we've seen recently and indicate a continuing, gradual improvement in the housing market,’ adds David Crowe, chief economist for NAHB.

Regionally, new home sales were mixed, rising 36.8% in the Midwest and 5.8% in the South, while decreasing 5.6% in the Northeast and falling 2.3% in the West.

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