John Carney23 May 202580
2:55
The economy keeps failing to live up to claims by critics of the Trump administration that the economy is teetering on a recession.
Sales of new single-family homes surged in April, with the pace of sales rising to a seasonally adjusted annual rate of 743,000 units, the U.S. Census Bureau and Department of Housing and Urban Development reported Friday. That’s a 10.9 percent increase from March and 3.3 percent above the level from a year earlier, though both comparisons fall within margins of error that leave statistical significance uncertain.
The South and Midwest regions led the gains, with sales up 11.7 percent and 35.5 percent, respectively, from March. The Northeast, by contrast, saw a sharp 14.8 percent monthly decline in sales.
The April numbers mark the fastest sales pace since early 2023 and suggest some resilience in the new home market, even as mortgage rates remain elevated and affordability continues to be a headwind.
Inventories Shrink, Prices Edge Higher
The inventory of new homes for sale declined slightly to 504,000 units, down 0.6 percent from March but still 8.6 percent above the April 2024 level. At the current sales pace, this represents a supply of 8.1 months, down from 9.1 months in March but still somewhat elevated by historical standards.
The median sales price rose modestly to $407,200, up from $403,700 in March but 2.0 percent below the median from a year ago. The average price, however, rose more sharply to $518,400, up 3.7 percent on the month and 3.6 percent year-over-year.
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https://www.breitbart.com/economy/2025/05/23/new-home-sales-jump-in-april-defying-downturn-predictions/
