New Home Sales Up 23.8 Percent - Highest Level in 8 Years

May 24, 2016

April's new residential sales numbers were released today by the US Census Bureau and things are definitely looking up.

Sales rose 16.6 percent to 619,000, above the revised March rate of 531,000 forecasted and is 23.8 above the April 2015 estimate of 500,000.

The median selling price for new homes also jumped 9.7 percent to a record $321,100. The April report also shows a 4.7 month inventory.

Existing home sales were up just 1.7 percent in April.