The U.S. Census Bureau reports that new home sales were at a seasonally adjusted annual rate of 476k in April. This is a 2.1% gain from April’s revised reading of 466k SAAR.
New home sales were up, seasonally adjusted, in 3 of the 4 U.S. regions:
- Northeast: SAAR of 35k from 29k last month.
- Midwest: SAAR of 83k from 59k last month.
- South: SAAR of 243k from 267k last month.
- West: SAAR of 115k from 111k last month.
The increase in May brings the new home sales annual rate to +29.0% year over year gains.
New home sales prices were up considerably in April, with the median sales price increasing to $263,900 from $272,600 last month and the average sales price rising to $307,800 from $331,300.
Number of new homes sold in each home price bracket: