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New Home Sales Continue Spring Rebound


May 24 — Sales of new single-family houses improved in April, adding to the gains made in March.
  • The U.S. Census Bureau reported an annual sales rate of 323,000 last month, up 7.3% from March. The rate is 23.1% below that of a year ago.
  • In March, new home sales rebounded by 11.1% compared to February, which saw a 13.5% dip.
  • In April, the supply of new homes on the market declined to 6.5 months, from 7.3 months in March and 8.2 months in February.
The historically short supply—175,000 homes, the smallest number since data collection began in 1963—raised the median new home price by 1.6% versus the previous month. The median price of $217,900 is 4.6% ahead of one year ago.

Read the full Census Burea news release.