New Home Sales Reverse Course Pick Up In April

Dated: May 23 2014

Views: 795

New home sales picked back up in April after March’s drastic drop, posting a seasonal adjusted annual rate of 433,000 and coming in higher than analyst expectations, according to the Census Bureau and the Department of Housing and Urban Development.

This is 6.4% above the revised March rate of 407,000, but is still 4.2% down from last year’s estimate of 452,000.

The median sales price of new houses sold in April was $275,800, with the average sales price reaching $320,000.

“Sales of new homes have been choppy over the last year but appear to have settled in on a firm footing,” saidQuicken Loans vice president Bill Banfield. “With improved interest rates and more inventory available in the marketplace for purchase, new home sales may continue to trend upward.” Read More Here...
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Mark Ross

For Mark Ross, founder of Ross NW Real Estate and professional real estate broker, real estate has always been the career of choice. During his 25+ years in the industry, Mark has gained experience in....

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