Prior Two Months Revised Higher By 39,000
New home sales came in at a seasonally adjusted annual rate of 673,000 in April, slightly missing the consensus forecast. That’s 6.9% (±14.0%) below the revised annual rate of 723,000 in March, it is 7.0% (±12.4%) higher than the April 2018 estimate of 629,000.
Further, upward revisions for the prior two months totaled a significantly higher 39,000 combined.
|Prior||Prior Revised||Consensus Forecast||Forecast Range||Actual|
|New Home Sales – – SAAR||692 K||723 K||680 K||640 K to 696 K||673 K|
The median sales price of new houses sold in April 2019 was $342,200. The average sales price was $393,700. 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.