New home sales fall in April

New single-family home sales fell to a seasonally adjusted annual rate of 591,000 in April, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The April level is 16.6% below the revised March rate of 709,000 and is 26.9% below the April 2021 estimate of 809,000.

The median sales price of new houses sold in April 2022 was $450,600. The average sales price was $570,300.

At the end of April, the seasonally adjusted estimated supply at the current sales rate was at 9.0 months.

Read the Census/HUD release.

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