After March Decline, New Home Sales in the U.S. Rise 6.8 Percent in April
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May 26, 2015

Following a significant decline of 11.4 percent in March, new home sales in the U.S. reversed course in April.

Sales of newly built, single-family homes rose 6.8 percent to a seasonally adjusted annual rate of 517,000 units last month, according to newly released data from U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau.

"Sales are moving forward and our builder members are telling us they are starting to see more activity as more buyers get off the fence and enter the marketplace," said Tom Woods, chairman of the National Association of Home Builders (NAHB) and a home builder from Blue Springs, Mo.

"Following an unusually low sales report in March, today's numbers are consistent with other data we've seen recently and indicate a continuing, gradual improvement in the housing market," said NAHB Chief Economist David Crowe.

The inventory of new homes for sale edged up to 205,000 units in April, which, according to NAHB, is a 4.8-month supply at the current sales pace.

Regionally, home sales were mixed, rising 36.8 percent in the Midwest and 5.8 percent in the South. The Northeast posted a 5.6 percent decline and the West fell 2.3 percent.