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
Return of the First-Time Homebuyer?
Lawrence Yun, Chief Economist of the National Association of Realtors, sees 2015 as a potential turnaround point for the return of the first-time homebuyer. While the recovery thus far has
Los Angeles Home Market Hitting High Notes But Tempo Slowing
By Edward Fitz “Don’t Worry, Be Happy . . . ” Bobby McFerrin wrote and sang those rosy words, and created a No. 1 hit in 1988. And those same
Where Are Residents in Los Angeles and Orange Counties Buying Homes?
In the last blog on recent trends in homebuyer mobility we found that high housing prices in two Northern California counties (San Francisco and Alameda) had been a principal cause
