New Home Sales and Prices Rise in April

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.

Read More

Previous The Return of the First-Time Buyer
Next Toll Beats on Profits, Misses on Revenues

About author

Michael Anderson
Michael Anderson 244 posts

Over the course of his 30-year career, Michael Anderson has worked in the residential development industry in the Pacific Northwest, Northern California and Southern California. He has acquired residential land in excess of $300M for both land development and homebuilding entities and has overseen the construction of approximately 2500 homes. Currently, in semi-retirement, and based out of Newport Beach, CA, Michael continues to invest in and stay abreast of the land markets.

View all posts by this author →

You might also like

Housing Market

Los Angeles Housing Market Continues to Show Strength

Housing prices in greater Los Angeles rose 4.8% from the prior quarter while sales improved by 6.5% with houses staying on the market an average of five days. The median

Housing Market

Cities Can’t Assume a Continued Boost From the Young

Over the past decade, many American cities have been transformed by young professionals of the millennial generation, with downtowns turning into bustling neighborhoods full of new apartments and pricey coffee

Housing Market

Mortgage Standards Set to Loosen

In what could potentially be a major catalyst for the housing market, new guidelines – meant to provide greater clarity as to when Fannie Mae and Freddie Mac can force