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 Affordability at 10-Year Low
Only 28% of home buyers can meet requirements for a median-priced single-family home.
Slowing Home Price Appreciation
No real surprise here – after a sharp bounce back off the bottom, particularly in core markets, home prices appear to be leveling off. Overall, this is probably not bad
U.S. Home Construction Reaches Strongest Pace in a Year, But Falls in the West
Construction of new homes in the United States climbed 13.7% in October, the biggest jump in a year, as builders broke ground on more apartments and single-family houses.