Median price for new homes hit a record high

Further signs that housing is recovering, the median price for a new home hit a record high, while sales of new homes rose in April to the second highest level since the summer of 2008.

Sold Home For Sale Sign in Front of New HouseNear-record-low mortgage rates and steady job creation are incenting more Americans to buy homes.

Home sales are now 29% higher than a year ago.  Still, sales are still below the 700,000 level considered healthy by economists.

The April increases were led by a strong 10.8% rise in sales in the West. Sales in the South were up 3% but sales fell 16.7% in the Northeast and were down 4.8% in the Midwest.

Sales of previously owned homes rose to the highest level in 3½ years in April to a seasonally adjusted annual rate of 4.97 million.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s