by Calculated Risk on 5/24/2005 06:38:00 PM

According to a Census Bureau report, New Home Sales set a record in April to a seasonally adjusted annual rate of 1.316 million vs. market expectations of 1.35 million. March sales were revised down significantly to 1.313 Million.


Click on Graph for larger image.

NOTE: The graph starts at 700 thousand units per month to better show monthly variation.

Sales of new one-family houses in April 2005 were at a seasonally adjusted annual rate of 1,316,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.2 percent above the revised March rate of 1,313,000 and is 13.3 percent above the revised April 2004 estimate of 1,162,000.



The Not Seasonally Adjusted monthly rate was 122,000 New Homes sold, down from a revised 128,000 in March.

The median sales price of new houses sold in April 2005 was $230,800; the average sales price was $283,500.

Both the median and average are in line with previous months.



The seasonally adjusted estimate of new houses for sale at the end of April was 440,000. This represents a supply of 4.1 months at the current sales rate.

The seasonally adjusted supply of New Homes was 4.1 months, about normal for the last few years. The supply for March was also 4.1 months, revised from just 3.0 months.

The surprise was the significant downward revision in the March numbers.