New home sales reached a seasonally adjusted annual rate of 1.32 million units in April 2005, up 13.3 percent from one year earlier, the U.S. Dept. of Commerce reported today. With an inventory of 440,000 new homes for sale at the end of April, there is a 4.1-month supply of new homes at the current sales pace.
New home sales increased in all four U.S. regions between April 2004 and April 2005, according to the report. The rate of new homes sold and for sale climbed 28.9 percent in the Northeast, 20.2 percent in the South, 6.4 percent in the West and 1 percent in the Midwest.
Posted by gandlwoods at June 1, 2005 09:13 AM