Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.
US new home sales hit a 13-month high in April

US new home sales hit a 13-month high in April

Posted on May 29, 2023   |  

In April, sales of new U.S. single-family homes rose to a 13-month high, boosted by a continuous shortage of formerly owned houses on the market.

New home sales grew with an annual rate of 4.1% to 683,000 units compared to last month, the highest since March 2022

March's sales rate adjusted to 656,000 units from the previously registered 683,000. 

The inventory of existing homes is down 44% from its pre-pandemic levels, which grew in half of the country last week.

The shortage is driving buyers to benefit from drops in mortgage rates, keeping builders busy despite depressed housing.

In 2023, the average rate on the famous 30-year fixed mortgage flows between 6.09% and 6.73%, after rising to 7.03% in late 2022.

In April, in the Midwest and South regions new home sales rose but declined in the Northeast and West.

The median new house price fell by 8.2% to $420,800 from a year ago, on the market, there were 433,000 new homes at the end of last month.



Previous Next