New Home Sales Modestly Rise in April

The U.S. Census Bureau is reporting that the sales of new single-family homes in April 2020 were at a seasonally adjusted annual rate of 623,000. This is 0.6% above the revised March rate of 619,000 but is <-6.2%> below the April 2019 estimate of 664,000. The seasonally adjusted estimate of new houses for sale at the end of April was 325,000. This represents a supply of 6.3 months at the current sales rate. Price The median sales price of new houses sold in April 2020 was $309,900. The average sales price was $364,500.