April 2007 New Home Sales Up Over March, Down 10.6 Percent Year Over Year

It looks like April was a bit of a wash. Sales of new homes were up 16 percent over a very disappointing March which is good news. But comparing year over year sales for April, 2007 was down 10.6 percent. These numbers have a high degree of error so they should be treated as estimates, but still not the new that home builders were looking for.

Sales of new one-family houses in April 2007 were at a seasonally adjusted annual rate of 981,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 16.2 percent (±13.0%) above the revised March rate of 844,000, but is 10.6 percent (±11.8%)below the April 2006 estimate of 1,097,000.

The median sales price of new houses sold in April 2007 was $229,100; the average sales price was $299,100. The seasonally adjusted estimate of new houses for sale at the end of April was 538,000. This represents a supply of 6.5 months at the current sales rate.Census Bureau

Related posts:
  1. Housing Starts Down 54.2 Percent For April, 2009
  2. Canadian Real Estate Sales Drops 17 Percent in 2008
  3. Third Quarter Existing Homes Sales Increase 11.4 Percent, Prices Drop 11.2 Percent
  4. Where Are The Home Buyers?
  5. Home Construction Drops 16.6 Percent In January, 2009

There Are 2 Responses So Far. »

  1. I live and work in the South East and I noticed it as well, that the April Market was slow. I will keep my fingers crossed for the summer months.

  2. OH and great article btw.

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