Sales of new single-family houses in April 2015 were at a seasonally adjusted annual rate of 517,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
This comes after a big drop in March which saw just 481,000 new home sales, the biggest drop in almost two years and primarily driven by a precipitous drop in sales in the Northeast in March.
This is 6.8% above the revised March rate of 484,000 and is 26.1% above the April 2014 estimate of 410,000.
The big driver of the gain was one of the smaller home regions, the Midwest, which saw a jump from 57,000 to 78,000 sales. In April the West and Northeast both saw declines.
The median sales price of new houses sold in April 2015 was $297,300; the average sales price was $341,500 – both up from March.