The price for a new home dropped nearly 6.9 percent between March and April of 2018, according to a report by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
The drop put the median price for a new home at $312,400, only 0.4 percent above April 2017, and less than inflation over the same period, Realtor.com reports. In addition, 5 percent of new home sales were less than $150,000, the largest share that the lower price-point has held since August 2016.
Meanwhile, the number of new homes sold and for sale dipped 1.5% from the previous month to about 662,000, according to the report. They rose, however, 11.6% from the same month a year earlier.
Advertisement
Related Stories
Sales + Marketing
New-Home Sales and Navigating the 3 D’s: Death, Divorce, and Downsizing
Here’s how home sales experts manage challenging lifestyle changes with and for their buyers
Housing Policy + Finance
Even With Inflation Running Hot and Elevated Mortgage Rates, Buyer Demand Rises
Mortgage rates will likely stay high for the next few months, but that doesn't seem to be deterring homebuyers
Market Data + Trends
A Look at Homeownership Rates Across the Nation
Data for homeownership rates in the 100 largest US cities show Port St. Lucie, Fla., in the top spot, while West Virginia is the state with the most homeowners
