April New-Home Sales Rise

May 27, 2008 | Filed Under Real Estate News, Real Estate Trends and Statistics 

Sales of new single-family homes rose 3.3 percent in April to a seasonally adjusted annual rate of 526,000, according to data released this morning by the U.S. Commerce Department. This is 42.0 percent below the estimate of 907,000 from April of last year. The median sale price of a new home increased 1.5 percent from $242,500 in April 2007 to $246,100 last month. There were 456,000 new homes available for sale at the end of April, which represents a 10.6-month supply at the current sales rate, down from the 11.1-month supply in March, but up from a 7.4-month supply last year.

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