According to data released this week by the U.S. Census Bureau and the Department of Housing and Urban Development, April sales of new single family homes were at seasonally adjusted annual rate of 619,000 (highest level since Jan. 2008). This number is 16.6% above March’s rate and 23.8% higher than one year ago. The median sales price of new houses sold in April 2016 was $321,100; the average sales price was $379,800. Currently there is 4.7 months supply of new homes at the current sales rate.
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