Sales of newly built, single-family homes increased 10.9% in April to a 743,000 seasonally adjusted annual rate, according to data from the U.S. Census Bureau.
The pace of new home sales in April was up 3.3% compared with a year earlier.
The median new home sale price in April was $407,200, compared with $415,300 in April 2024.
New single-family home inventory rose 8.6% from April 2024 to a level of 504,000 residences.
“The April new home sales figure appears to be an anomaly, as builder sentiment moved markedly lower in May,” National Association of Home Builders Chairman Buddy Hughes said in a statement. “A more reliable look would be the year-to-date figures, which show new home sales are down 1.2% on elevated interest rates, ongoing policy uncertainty and rising construction costs.”
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