Briefing.com: New Home Sales

Updated: 23-May-25 10:22 ET

April New Home Sales

Updated: 23-May-25 10:22 ET

Highlights

New home sales surged 10.9% month-over-month in April to a seasonally adjusted annual rate of 743,000 units (Briefing.com consensus 679,000) from a downwardly revised 670,000 (from 724,000) in March.
On a year-over-year basis, new home sales were up 3.3%.

Key Factors

The median sales price decreased 2.0% yr/yr to $407,200, while the average sales price increased 3.6% to $518,400.
New home sales month-over-month/year-over-year by region: Northeast (-14.8%; -25.8%); Midwest (+35.5%; +1.2%); South (+11.7%; +6.5%); and West (+3.3%; +1.3%).
At the current sales pace, the supply of new homes for sale stood at 8.1 months, versus 9.1 months in March and 7.7 months in the year-ago period.
The percentage of new homes sold for $399,999 or less accounted for 49% of new homes sold versus 49% in March. Homes priced between $400,000 and $799,999 accounted for 40% of new homes sold versus 42% in March. New homes priced at $800,000 or over accounted for 10% of sales in April versus 9% in March.

Big Picture

The key takeaway from the report is that new home sales in April were bolstered by a decline in the median sales price; however, the excitement surrounding the headline beat was muted by the sharp downward revision to new home sales for March. Taking that revision into account, there wasn't a great deal of change in the March-April period compared to what economists knew and expected going into the April report.