US Home Sales Fall for Fourth Straight Month as Prices Climb Further

Source: US Census Bureau

New home sales in the United States declined for the fourth straight month in April, reflecting a double-digit monthly and annual decline. XHB is down 3.92%, while ITB fell 3.86%.

• New houses sold for the month stood at 591,000, indicating a 16.6% decline from the 709,000 in March and 26.9% lower than the 809,000 in April 2021.
• The South posted the highest number of sales with 307,000, followed by the West with 163,000, the Midwest with 73,000, and the Northeast with 48,000.
• Units for sale during the month stood at 444,000, 8.3% higher than the 410,000 in March and 40.1% above the 317,000 in April 2021.
• The latest inventory represents a supply of 9.0 months based on the current sales rate.
• The median sales price for the month was recorded at $450,600, up from $435,000 in the previous month and $375,600 the same month in 2021.
• The average sales price stood at $570,300, higher than the $522,500 in March and $434,800 in April 2021.