US New Home Sales Fall Less than Expected

Sales of new single-family houses in the United States shrank 1.5 percent from the previous month to a seasonally adjusted annual rate of 662 thousand in April of 2018, compared to market expectations of a 2 percent drop. It follows a downwardly revised 2 percent jump in March.

Sales declined 7.9 percent to 176 thousand in the West; were flat in the Midwest at 91 thousand; edged up 0.3 percent to 355 thousand in the South; and rose 11.1 percent to 40 thousand in the Northeast. 

The median sales price of new houses sold in April was USD 312,400, above USD 311,000 in the same month of the previous year. The average sales price also rose to USD 407,300 in April from USD 365,800 a year ago. 

The stock of new houses for sale went up 0.7 percent to 300 thousand. This represents a supply of 5.4 months at the current sales rate.

Year-on-year, new home sales surged 11.6 percent.

US New Home Sales Fall Less than Expected

US Census Bureau | Joana Taborda |
5/23/2018 2:26:18 PM