The U.S. Census Bureau
and the Department of Housing and Urban Development said today that the sales
of new single family homes in April were at a seasonally adjusted rate of 433,000,
an increase of 6.4 percent from March sales of 407,000 (revised from 384,000). The April figure is 4.2 percent below sales in
The revised March number, while still lower than sales in February,
cuts the month-over-month loss from the 14.6 percent originally reported to 9.4
percent. Perhaps some kind of spring market has
finally arrived, or perhaps sales are just sideways and stagnant overall.
On a non-seasonally adjusted basis there
were 41,000 new homes sold in April compared to 39,000 in March. There were 192,000 homes available for sale
at the end of the reporting period, a 3.5 year high, and a 5.3 month supply compared to 191,000
units in March, a 5.6 month supply.
The median price of a new home sold in
April was $275,800 and the average price was $320,100. One year earlier the median and average prices
of home sold were $279,000 and $337,000.
New home sales in the Northeast were
down dramatically, 26.7 percent lower than in March and 31.3 percent below
sales one year earlier. In contrast,
sales soared in the Midwest, 47.4 percent above the previous month and 35.5
percent higher than in April 2013. Sales
in the South increased 3.1 percent month-over-month but fell 9.6 percent below
the level the previous April. Sales in
the West were unchanged from April and 6.1 percent lower than the earlier