New home sales rise 0.6 percent in April
Average selling price is $364,500.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for April 2020:
New Home Sales
Sales of new single-family houses in April 2020 were at a seasonally adjusted annual rate of 623,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.6 percent (±14.9 percent)* above the revised March rate of 619,000, but is 6.2 percent (±17.1 percent)* below the April 2019 estimate of 664,000.
Sales Price
The median sales price of new houses sold in April 2020 was $309,900. The average sales price was $364,500.
For Sale Inventory and Months’ Supply
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.
CONTRACTOR SUPPLY MAGAZINE
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