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April residential sales decline
HUD and the Census Bureau have jointly announced statistics on new residential sales for April 2019:
- New Home Sales - Sales of new single-family houses in April 2019 were at a seasonally adjusted annual rate of 673,000. This is 6.9 percent below the revised March rate of 723,000 and 7.0 percent above the April 2018 estimate of 629,000.
- Sales Price - The median sales price of new houses sold in April 2019 was $342,200. The average sales price was $393,700
- For Sale Inventory - The seasonally adjusted estimate of new houses for sale at the end of April was 332,000. This represents a supply of 5.9 months at the current sales rate.