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New Homes Sales up in April

According to a recent article on Builder Magazine’s website, new home sales in April were up 3.3% over March’s numbers. The total figure came in at 343,000, which exceeded the consensus expectations of 335,000.

Median home price also ticked upwards with a 0.7% gain to $235,700.

Additionally, total inventory increased 1.4%, which one quoted Wells Fargo senior analyst interpreted as optimistic builders reacting to strong spring sales.

Despite the signs of improvement, however, new home sales rates are still at about half of what is considered “healthy.”

Credit: BuilderOnline.com