The WPJ
Residential Real Estate News
U.S. New Home Sales Uptick 7% Month-Over-Month in April
According to the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new one-family houses in April 2011 were at a seasonally adjusted annual rate of 323,000.
This is 7.3 percent (±16.6%) above the revised March rate of 301,000, but is 23.1 percent (±9.7%) below the April 2010 estimate of 420,000.
The median sales price of new houses sold in April 2011 was $217,900; the average sales price was $268,900. The seasonally adjusted estimate of new houses for sale at the end of April was 175,000. This represents a supply of 6.5 months at the current sales rate.
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