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Sunday, June 16, 2019
HomeNewsNew Home Sales 673K in April, Revised Significantly Higher for Prior Two Months

New Home Sales 673K in April, Revised Significantly Higher for Prior Two Months

An exchange showing one hand giving cash to the another for new house and keys, a vector illustration for new home sales. (Photo: AdobeStock)

Prior Two Months Revised Higher By 39,000

An exchange showing one hand giving cash to the another for new house and keys, a vector illustration for new home sales. (Photo: AdobeStock)
An exchange showing one hand giving cash to the another for new house and keys, a vector illustration for new home sales. (Photo: AdobeStock)

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.

PriorPrior RevisedConsensus ForecastForecast RangeActual
New Home Sales – – SAAR692 K723 K680 K640 K to 696 K673 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.

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