April New Home Sales Beat Expectations By A Mile

Homeowner

April new home sales rose by a seasonally-adjusted rate of 504,000 vs. an expected increase of just 425,000.

March data was also revised upwards.

Sales of new one-family houses in April 2010 were at a seasonally adjusted annual rate of 504,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 14.8 per cent (±19.5%)* above the revised March rate of 439,000 and is 47.8 per cent (±26.0%) above the April 2009 estimate of 341,000.

The median sales price of new houses sold in April 2010 was $198,400; the average sales price was $249,500. The seasonally adjusted estimate of new houses for sale at the end of April was 211,000. This represents a supply of 5.0 months at the current sales rate.

See the official release here >

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