Posted May 24, 2016

New single-family home sales leap 16.6 percent in April

Sales rate trends 23.8 percent over April 2015.

Sales of new single-family houses in April 2016 were at a seasonally adjusted annual rate of 619,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 16.6 percent (±15.4%) above the revised March rate of 531,000 and is 23.8 percent (±22.8%) above the April 2015 estimate of 500,000.

The median sales price of new houses sold in April 2016 was $321,100; the average sales price was $379,800.

The seasonally adjusted estimate of new houses for sale at the end of April was 243,000. This represents a supply of 4.7 months at the current sales rate.