Whether you are considering buying or selling a new home, it’s important to do the proper research. It can be very helpful to keep up to date on the latest new home sales census data.
What follows is a new home sales report for April 2017 detailing the number of new homes sales and other information that will be useful to you in your current real estate transactions.
This is accurate data released by the U.S. Census Bureau in conjunction with the U.S. Department of Housing and Urban Development.
New Residential Sales
In April, the annual rate for new houses sold in the United States was calculated at 569,000. New houses on the market for sale numbered at 268,000. The median sales price for a home sold in April was $309,200.
The 569,000 statistic refers to single-family houses at a seasonally adjusted annual rate. This sales number represents an 11.4 percent drop over the rate of March 2017, which was 642,000. However, this number was exceedingly high — the highest annual rate for home sales since October of 2007, nine years earlier.
The April 2017 number still represented a slightly higher annual rate than April of a year earlier, when the rate was estimated at 566,000.
Residential Sales Statistics — Prices and Inventory
The median sales price of new houses that were sold in April 2017 was $309,200. This represents a slight drop from the March median sales price of $318,700. The average sales price was $368,300.
The number of new houses for sale by the end of April, according to this seasonally-adjusted estimate was 268,000, representing a 5.7-month supply at the existing sales rate. This is a significantly high number of homes for sale. According to this data, there have not been this many homes for sale since July of 2009, eight years ago.
How to Interpret Home Sales Data
It seems at a glance that a buyer’s market is developing in real estate. While the housing market rose steadily at the end of 2016 and into 2017, that momentum seems to be slowing down considerably. That may mean the time to get into new home purchasing is now, although you may want to consider waiting a few months to see if the downward trend continues or if the market is showing signs of rebounding.
If you’re considering real estate in York, PA or the south central PA region in general, we can help you navigate the challenges and opportunities of this real estate market. Get in touch with a CENTURY 21 Core Partners agent today to find out how you can best take advantage of the current state of the real estate market.