New Home Sales Beat Forecasts

Sales of new single-family houses in the US surged 6.8 percent to a seasonally adjusted annual rate of 517,000 units in April, boosted by sales in the South and the Midwest.

The March figure was revised up to 484,000 units from the previously reported 481,000 units.

In April, sales in the Midwest jumped 36.8 percent and those in the South increased 5.8 percent. In contrast, sales in the West shrank 2.3 percent and those in the Northeast fell 5.6 percent. 

The median sales price of new houses sold in April 2015 was $297,300; the average sales price was $341,500. The seasonally adjusted estimate of new houses for sale at the end of April was 205,000. This represents a supply of 4.8 months at the current sales rate.

Year-on-year, new home sales were 26.1 percent above the April 2014 estimate of 410,000.

New Home Sales Beat Forecasts

U.S. Census Bureau | Joana Taborda |
5/26/2015 3:16:37 PM