According to a press release by the US Census Bureau and the Department of Housing and Urban Development, new residential home sales showed gains in April. Nationally, new single-family home sales rose by 6.8% from the previous month and were 26.1% higher than the same time last year. In in the West, new single-family home sales declined by 2.3% on a month-over-month basis, but were 39.8% higher than in April 2014.
Inventory remained tight across the country in April. Representing a 4.8-month supply at the current sales rate, the US Census Bureau and the Department of Housing and Urban Development estimated 205,000 new homes were available for sale at the end of April. To read the full press release, visit http://1.usa.gov/1OxsIkW.