April New Home Sales Up 29% from Year Ago
May 30, 2013
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April 2013 sales of new single-family houses were at a seasonally adjusted annual rate of 454,000 according to data from the U.S. Census Bureau. The April rate was up 2.3% from the upwardly revised March rate of 444,000 and is 29.0% above the April 2012 rate of 352,000.

New home sale prices in April 2013:
* median sales price: $271,600
* average sales price: $330,800

The seasonally adjusted estimate of new houses for sale at the end of April 2013 was 156,000. This is a 4.1-month supply at the current rate of sales.

"Builders are reporting an active spring buying season as consumers become more confident about going forward with a new-home purchase along with steadily firming prices in local markets," said Rick Judson, chairman of the National Association of Home Builders (NAHB) and a home builder from Charlotte, N.C. "While the cost of constructing homes is rising due to tightened supplies of materials, lots and labor, to some extent, this may be creating greater urgency among potential buyers."

"Today's report is further evidence of the gradual, consistent improvement we have been seeing in housing market conditions over the past year," noted NAHB Senior Economist Robert Denk. "We're now about half-way back to what could be considered a full recovery, and we do expect to see continual, solid gains in both starts and sales of new homes going forward."

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