Sales of new single-family houses were at an adjusted rate of 454,000 in April, which is 2.3 percent above the rate in March and 29.0 percent above the rate in April 2012, according to the U.S. Department of Commerce.
Regionally, new-home sales rose 3.0 percent in the South and 10.8 percent in the West, but fell 4.8 percent in the Midwest and 16.7 percent in the Northeast in April.
The median sales price of the homes sold in April was $271,600. The DOC estimates the number of new houses for sale at the end of April was 156,000, a 4.1-month supply at the current sales rate.
"Builders are reporting an active spring buying season as consumers become more confident about going forward with a new-home purchase along with steadily firming prices in local markets," said Rick Judson, chairman of the National Association of Home Builders (NAHB), in a statement. "While the cost of constructing homes is rising due to tightened supplies of materials, lots and labor, to some extent, this may be creating greater urgency among potential buyers."
"We're now about half-way back to what could be considered a full recovery, and we do expect to see continual, solid gains in both starts and sales of new homes going forward," said NAHB senior economist Robert Denk in a statement.
