New Home Sales Declined 4.7% in April

Washington, DC, May 23, 2024-Sales of new single-family houses in April 2024 were at a seasonally adjusted annual rate of 634,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 4.7% below the revised March rate of 665,000 and 7.7% below the April 2023 estimate of 687,000.

The median sales price of new houses sold in April 2024 was $433,500. The average sales price was $505,700.

The seasonally adjusted estimate of new houses for sale at the end of April was 480,000. This represents a supply of 9.1 months at the current sales rate.