New Home Sales Increase 3.3 Percent In April

The U.S. Department of Housing and Urban Development and the U.S. Department of Commerce released their New Residential Sales report for April. According to the report, sales of new single-family homes rose 3.3 percent over March’s revised rate and are 9.9 percent above year-before levels. The gains put new-home sales at a seasonally adjusted annual rate of 343,000, up from March’s revised rate of 332,000. The median sales price of new homes sold in April was $235,700; the average was $282,600. At the current sales pace, there was a 5.1-month supply of new homes available for sale at the end of the month. More here and here.

New Home Sales Up 7.5 Percent From March 2011

The U.S. Census Bureau and the Department of Housing and Urban Development’s New Residential Sales Report for March 2012 shows that sales of new single-family homes are up 7.5 percent over the previous year’s pace. According to the report, new home sales came in at a seasonally adjusted annual rate of 328,000, which is 7.1 percent below February’s revised rate of 353,000 but a significant improvement over last March’s estimate of 305,000. February’s estimate was revised up from an originally reported 313,000, making that month’s sales pace the fastest since November 2009. Also, the median sales price of new houses sold during the month was $234,500; the average sales price was $291,200. At the current sales pace, there was a 5.3 month supply of new homes available for sale at the end of March. More here.

Builder Confidence At Highest Level Since 2007

Builder confidence in the market for new single-family homes is twice as strong as it was six months ago and at its highest level since 2007. The latest National Association of Home Builders Housing Market Index, which measures builders’ expectations and perceptions, was unchanged from last month. Barry Rutenberg, chairman of the NAHB, said builders are still cautious but there’s a sense that many local housing markets have started to move in the right direction and that prospects for future sales are improving. The component gauging builders expectations for sales over the next six months was up for the six consecutive month, rising two points from the month before. Regionally, the Index was up in the Northeast, South, and Midwest but down in the West. More here.