Despite falling 1.5 percent from March, April's new home sales are up 11.6 percent over April 2017.
The large gap is due to the particularly weak number of new housing sales in April 2017, but reporting from Zillow Research still puts last month’s home sales 8.6 percent over the past year’s 12-month trailing moving average. 662,000 units were sold last month.
In addition, for-sale inventory was up 0.7 percent in April, making it the first month since 2009 to hit 300,000 units.
Advertisement
Related Stories
Financing
As Mortgage Rates Dip, Homeowners With High Rates Move to Refinance
A decrease in rates last week prompted a rise in refinancing by homeowners who obtained their mortgages at near-peak rates
Market Data + Trends
February Saw More Sellers Jumping Back Into the Housing Market
February's housing market saw an increase in the supply of available homes, with Dallas leading among metros where the most sellers are getting into the market
New-Home Sales
New-Home Sales Increase Again in January, Builder Confidence Up
Easing mortgage rates and continued housing demand helped buoy new-home sales in January, further boosting builder confidence