New Home Sales Down 6.9% in April

New home sales down 2.3% in May. NEW home sales have dropped for the first time in 2015 on the back of a slide in sales of detached homes, the HIA says. AAP June 30, 2015 1:19pm.

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New-home sales tumble in April after soaring to 10-year high in March. the median sales price for a new home was $309,200, down from $318,700 in March and $321,300 in the year-ago period.

. market in this area continues to drop because of increased sales and fewer new listings. According to data from Bright MLS, there were 7,535 homes for sale in April, down 12.9 percent compared.

The number of new homes for sale at the end of the month was little changed at 333,000. The supply of homes at the current sales rate increased to 6.4 months from 5.9 months in April.

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Since then, construction of single-family homes has increased while foreclosure sales have declined, bringing the ratio of existing-to-new home sales back down to 12 to 1 in 2013. As the housing market continues to recover, new homes should be a growing share of overall sales. Year over year, the inventory of new homes for sale rose 25%.

The National Association of Realtors is reporting that pending home sales declined 1.3% in April, marking their lowest level over the past year. The NAR’s Pending Home Sales Index declined 1.3% to 106.4 in April, down from March’s revised number. A sale is listed as pending when the contract has been signed but the transactionRead More

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Still, sales were up from a year earlier and up for all of 2017. Sales of new single-family houses in December 2017 were at a seasonally adjusted annual rate of 625,000, 9.3% below the revised November rate of 689,000 but 14.1% above the December 2016 estimate of 548,000, according to estimates released jointly today by the U.S.

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Sales remained unchanged in the Midwest and dropped 7.9% in the West after a very strong March reading. The inventory of new home sales for sale was 300,000 in April, which is a 5.4-month supply at the current sales pace. The median sales price of new houses sold was $312,400.