Last Update: 23-May-18 10:34 ET
New Home Sales
- New home sales decreased 1.5% month-over-month in April to a seasonally adjusted annual rate of 662,000 (Briefing.com consensus 677,000) from a downwardly revised 672,000 (from 694,000) in March.
- Sales growth by region: Northeast (+11.1%); Midwest (0.0%); South (+0.3%); and West (-7.9%)
- The median sales price increased 0.4% year-over-year to $312,400. The average sales price increased 11.3% to $407,300.
- Based on the current sales pace, the inventory of new homes for sale increased to a 5.4-months' supply, versus 5.3 months in March and 5.4 months in the year-ago period
- Homes priced at $399,999, or less, accounted for 65% of new homes sold in April versus 70% in March
- The key takeaway from the report is that lower-priced homes ($399,999 or less) accounted for a smaller percentage of new homes sold in April than the prior month, reflecting perhaps the lack of supply at more attractive price points for prospective buyers.
|Median Price Y/Y