New Home Sales and Prices Rise in April
New home sales rose more than expected in April to a seasonally adjusted annual rate of 517,000 units, a 6.8% improvement over the March number of 484,000 units and above economist estimates of 510,000. Housing supply remains tight at 4.8 months (6 months is considered a balanced market), and median price for a new home rose 8.3% from a year ago to $297,300.
About author
You might also like
California Housing Crunch Prompts Push to Allow Building
By Chris Kirkham Marco Gonzalez spent more than a decade suing real-estate developers in California over housing proposals that would have spoiled wetlands and gutted hillsides. The environmental lawyer won
This Forecast isn’t Pretty for Southern California Home Prices
While many housing forecasts call for moderate price gains in 2017, an outlook from Clear Capital may be one of the most circumspect on the prospects for Southern California real
The Return of the McMansion
In the aftermath of the bursting of the housing bubble, many pundits expounded upon “the end of the suburbs” with even a book written by that name. However, the data
