April New Home Sales

Updated: 28-May-26 11:52 ET

Highlights

• New home sales decreased 6.2% month-over-month in April to a seasonally adjusted annual rate of 622,000 from a revised 663,000 (from 682,000) in March.
• On a year-over-year basis, new home sales were down 11.3%.

Key Factors

• The median sales price increased 2.2% yr/yr in April to $422,500, while the average sales price decreased 1.1% yr/yr to $508,800.
• New home sales month-over-month/year-over-year by region in April: Northeast (-12.9%/-12.9%); Midwest (-25.0%/-21.4%); South (-9.8%/-14.7%); and West (18.7%; 4.6%).
• At the current sales pace, the supply of new homes for sale stood at 9.4 months, versus 8.7 in March and 8.6 months in the year-ago period.
• The percentage of new homes sold for $399,000 or less accounted for 45% of new homes sold versus 52% in March. Homes priced between $400,000 and $799,000 accounted for 46% of new homes sold versus 38% in March. New homes priced at $800,000 or over accounted for 9% of sales versus 9% in March.

Big Picture

• The key takeaway from the report is that the median sales price increased even though the supply (9.4 months) of homes approached this year's high (9.9) from January.