The U.S. Department of Housing and Urban Development and the U.S. Department of Commerce released their New Residential Sales report for April. According to the report, sales of new single-family homes rose 3.3 percent over March’s revised rate and are 9.9 percent above year-before levels. The gains put new-home sales at a seasonally adjusted annual rate of 343,000, up from March’s revised rate of 332,000. The median sales price of new homes sold in April was $235,700; the average was $282,600. At the current sales pace, there was a 5.1-month supply of new homes available for sale at the end of the month. More here and here.

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