New home sales jumped 16.2% in April 2007 according to a Commerce Department report released Thursday. This follows a 2.6% increase in March. Sales in April were 10.6% below the April 2006 level, but this was an improvement over March, when sales were 23.5% below the year ago level. The median sales price for new homes was $229,100. With 538,000 new homes for sale, there is a 6.5 month supply of homes available for sale.
NEW RESIDENTIAL SALES IN APRIL 2007
Sales of new one-family houses in April 2007 were at a seasonally adjusted annual rate of 981,000, according to
estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban
Development. This is 16.2 percent (±13.0%) above the revised March rate of 844,000, but is 10.6 percent
(±11.8%)
*
below the April 2006 estimate of 1,097,000.
The median sales price of new houses sold in April 2007 was $229,100; the average sales price was $299,100.
The seasonally adjusted estimate of new houses for sale at the end of April was 538,000. This represents a supply
of 6.5 months at the current sales rate.
Complete new home sales data [Popup window]
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