US New Residential Single-Family Home Sales Decline in April

Posted on May 23, 2024

On Thursday, the US Census Bureau and Department of Housing and Urban Development jointly announced that new residential single-family home sales for April were at a seasonally adjusted annual rate (SAAR) of 634,000, according to estimates. This is 4.7% below the revised March rate of 665,000 and 7.7% below the April 2023 rate of 687,000.

The median sales price of new houses sold in April was $433,500. The average sales price was $505,700.

The seasonally adjusted estimate of new houses for sale at the end of April was 480,000. This represents a supply of 9.1 months based on the current rate of sales.

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