Sales of New Single-Family Home Sales Drop 5.9% in April

The U.S. Census Bureau is reporting that new residential single-family home sales for April 2021 were at a SAAR of 863,000, according to estimates. This is -5.9% below the revised March rate of 917,000 but is 48.3% above the April 2020 estimate of 582,000. The seasonally adjusted estimates of new houses for sales at the end of April was 316,000. This represents a 4.4 months’ supply based on the current rate of sales. The median sales price of new houses sold in April 2021 was $372,400. The average sales price was $435,400.