Sales of New Single-Family Homes Tumble Month-Over-Month & Year-Over-Year in April

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced on Tuesday (5-24-22) that new residential single-family home sales for April 2022 were at a seasonally adjusted annual rate (SAAR) of 591,000, according to estimates. This is -16.6% below the revised March rate of 709,000 and is -26.9% below the April 2021 estimate of 809,000. This marks the fourth consecutive monthly decline of new single-family homes.

The median sales price of new houses sold in April was $450,600. The average sales price was $570,300.

The SAAR estimate of new houses for sale at the end of April was 444,000. This represents a supply of 9.0 months at the current sales rate.

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