| Online: | |
| Visits: | |
| Stories: |
| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
New Home Sales Rebound Despite Median Price Rising To Just Shy Of All Time High
Following last month’s disappointing slump to only 481K new home sales in March (now revised to 484K) which was the biggest drop in nearly 2 years driven by a collapse in Northeast transactions, according to the latest new home sales data by the Census Bureau housing rebounded back over 500K, printing at 517K thanks to a 37% sequential jump in Midwest new home sales, which rebounded from 57K to 78K, even as sales in the Northeast continued to decline and even the West saw a modest drop.
Curiously, while there are double digit annual increases from April of 2014 across 3 of America’s 4 housing regions, the Northeast continues to deteriorate, and is now down 19% from a year ago.
The total sales figure represented 4.8 months of supply, down from 5.1 the month before.
However, as the long-term chart shows, new home sales have a long way to go before they regain the levels seen during the last bubble.
Yet while the actual number of sale transactions has a long way to go,the median price rose once more and at $297,300 per new house, is not only the highest of 2015, but just shy of the record highest median price seen of $302,700 hit in November of 2014.
Source: http://silveristhenew.com/2015/05/26/new-home-sales-rebound-despite-median-price-rising-to-just-shy-of-all-time-high/
