Keeping you up to date on the latest data releases.
- New Home Sales
New single-family home sales surged again in April, rising 14.8 percent after March’s upwardly revised 29.9 percent jump. The sharp climb over these last couple of months has brought the sales pace to 504,000 annual units, its strongest since mid-2008. All U.S. census regions saw moderate to large gains except for the Northeast, where sales were flat. Inventory of new single-family homes on the market dropped a record 7.0 percent, causing the months’ supply at the current sales rate to drop from 6.2 to 5.0 months in April. The months’ supply has fallen measurably since its recession peak of 12.1 back in June 2009, and has deflated all the way down from 10.6 months a year ago last April. The boost in sales from the first-time homebuyers’ tax credit has been particularly evident this time around leading up to its extended deadline at the end of April. Since its extension last November, the sales pace has risen 42 percent, from 356,000 annual units up to 506,000.