US New Home Sales Down To 4-Month Low

Sales of new single-family houses in the United States slumped 11.4 percent to a seasonally adjusted annual rate of 569 thousand in April of 2017 from an upwardly revised near 9-1/2-year high of 642 thousand in March. The figure came below market expectations of 610 thousand, as sales fell in all four main regions.

Sales declined the most in the West (-26.3 percent to 126 thousand), followed by the Midwest (-13.1 percent to 73 thousand), the Northeast (-7.5 percent to 37 thousand) and the South (-4 percent to 333 thousand).

The median sales price of new houses sold was $309,200 lower than $318,700 in the previous month. The average sales price was $368,300 below $385,400 in March.

The stock of new houses for sale went up to 268 thousand from 264 thousand in March. This represents a supply of 5.7 months at the current sales rate.

Year-on-year, new home sales rose 0.5 percent.

US New Home Sales Down To 4-Month Low

US Census Bureau | Joana Taborda |
5/23/2017 2:26:53 PM