Following yesterday's upbeat existing-home sales report, today's new-home sales data offers more positive news for the housing market.
Sales of new single-family houses in April 2012 were at a seasonally adjusted annual rate of 343,000, according to estimates released jointly this morning by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.9 percent above the revised April 2011 rate of 312,000 units and 3.3 percent above the revised March 2012 rate of 332,000.
The median sales price of new houses sold in April 2012 was $235,700; the average sales price was $282,600. The seasonally adjusted estimate of new houses for sale at the end of April was 146,000. This represents a supply of 5.1 months at the current sales rate.
All regions saw a year-over-year gain in new-home sales, with the Midwest (21.9 percent YoY gain to 50,000 units) and West (12.8 percent YoY gain to 88,000 units) leading the way. All but one region (South) also saw month-over-month new-home sales increases.
To read the rest of the report, click here .