U.S. new home sales up 6.4 percent to 433K in April

Nathan Andrada – Fourth Estate Cooperative Contributor

Washington, DC, United States (4E) – New home sales in the U.S. climbed in April after dropping for two straight months, according to the Commerce Department report released Friday.

In April, newly built single-family houses were sold at an annual pace of 433,000, jumping 6.4 percent from March’s figure that was upwardly revised to a 407,000 rate. The pace for March was initially projected at a pace of 384,000.

The increase in sales for April was expected, and the figure was higher than analysts’ estimate of 415,000 units.

New-home sales are viewed as a more immediate gauge of the current health of the housing market compared to existing-home sales, which are tallied a few months after the signing of the contracts.

Existing-home sales climbed 1.3 percent last month to an annual pace of 4.65 million units, the first time the figure posted an increase this year.

Sales of new homes dropped 4.2 percent in April compared with a year ago, and sales of existing homes fell 6.8 percent.

For new houses, the median sales price fell 2.1 percent to $275,800 last month.

At the end of April, there were 192,000 new homes available for sale, representing a supply of 5.3 months at the current sales pace.

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