MONTHLY NEW RESIDENTIAL SALES, APRIL 2017

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1 FOR RELEASE AT 10:00 AM EDT, TUESDAY, MAY 23, MONTHLY NEW RESIDENTIAL SALES, APRIL Release Number: CB17-80 May 23, - The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for April : NEW RESIDENTIAL SALES APRIL New Houses Sold 1 : 569,000 New Houses For Sale 2 : 268,000 Median Sales Price: $309,200 Next Release: June 23, 1 Seasonally Adjusted Annual Rates 2 Seasonally Adjusted Source: U.S. Census Bureau, HUD, May 23, Thousands of Units New Residential Sales (Seasonally Adjusted Annual Rate) 200 Houses Sold 0 Apr-12 Apr-13 Apr-14 Apr-15 Apr-16 Apr-17 Source: U.S. Census Bureau, HUD, May 23, New Home Sales Sales of new single-family houses in April were at a seasonally adjusted annual rate of 569,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 11.4 percent (±10.5 percent) below the revised March rate of 642,000, but is 0.5 percent (±11.3 percent)* above the April 2016 estimate of 566,000. Sales Price The median sales price of new houses sold in April was $309,200. The average sales price was $368,300. For Sale Inventory and Months Supply The seasonally-adjusted estimate of new houses for sale at the end of April was 268,000. This represents a supply of 5.7 months at the current sales rate. Seasonal Review (every April release) Seasonally adjusted estimates of housing units sold, housing units for sale, and the months' supply of new housing for January 2015 through March have been revised. The May report is scheduled for release on June 23,. View the full schedule in the Economic Briefing Room: < The full text and tables for this release can be found at < Data Inquiries Media Inquiries Economic Indicators Division, Residential Construction Branch Public Information Office eid.rcb@census.gov pio@census.gov

2 EXPLANATORY NOTES These statistics are estimated from sample surveys. They are subject to sampling variability as well as nonsampling error including bias and variance from response, nonreporting, and undercoverage. Estimated average relative standard errors of the preliminary data are shown in the tables. Whenever a statement such as 2.5 percent (±3.2%) above appears in the text, this indicates the range (-0.7 to +5.7 percent) in which the actual percent change is likely to have occurred. All ranges given for percent changes are 90-percent confidence intervals and account only for sampling variability. If a range does not contain zero, the change is statistically significant. If it does contain zero, the change is not statistically significant; that is, it is uncertain whether there was an increase or decrease. The same policies apply to the confidence intervals for percent changes shown in the tables. Changes in seasonally adjusted statistics often show irregular movement. It takes 6 months to establish a trend for new houses sold. Preliminary new home sales figures are subject to revision due to the survey methodology and definitions used. The survey is primarily based on a sample of houses selected from building permits. Since a sale is defined as a deposit taken or sales agreement signed, this can occur prior to a permit being issued. An estimate of these prior sales is included in the sales figure. On average, the preliminary seasonally adjusted estimate of total sales is revised about 3 percent. Changes in sales price data reflect changes in the distribution of houses by region, size, etc., as well as changes in the prices of houses with identical characteristics. Explanations of confidence intervals and sampling variability can be found on our website. < America s Economy Mobile App The America s Economy app provides real-time updates for 19 key economic indicators released from the Census Bureau, Bureau of Labor Statistics, and Bureau of Economic Analysis. < API The Census Bureau s application programming interface lets developers create custom apps to reach new users and makes key demographic, socio-economic and housing statistics more accessible than ever before. < X * The 90 percent confidence interval includes zero. In such cases, there is insufficient statistical evidence to conclude that the actual change is different from zero. Data Inquiries Media Inquiries Economic Indicators Division, Residential Construction Branch Public Information Office eid.rcb@census.gov pio@census.gov

3 New Privately-Owned Houses Sold and For Sale Table 1a - Seasonally adjusted United States Sold during period 1 Northeast Midwest South West United States For sale at end of period Northeast Midwest South West 2015 (r) January X X X X 4.7 X X February X X X X 4.5 X X March X X X X 5.1 X X April X X X X 4.9 X X May X X X X 5.0 X X June X X X X 5.4 X X July X X X X 5.2 X X August X X X X 5.1 X X September X X X X 5.8 X X October X X X X 5.6 X X November X X X X 5.4 X X December X X X X 5.2 X X 2016 (r) January X X X X 5.5 X X February X X X X 5.5 X X March X X X X 5.5 X X April X X X X 5.1 X X May X X X X 5.2 X X June X X X X 5.2 X X July X X X X 4.5 X X August X X X X 5.1 X X September X X X X 5.1 X X October X X X X 5.2 X X November X X X X 5.1 X X December X X X X 5.6 X X January (r) X X X X 5.2 X X February (r) X X X X 5.2 X X March (r) X X X X 4.9 X X April (p) X X X X 5.7 X X. Average RSE (%) X X X X 7 X X Percent Change 4 Apr. from Mar % -7.5% -13.1% -4.0% -26.3% 1.5% X X X X 16.3% X X. 90 percent confidence interval ± 10.5 ± 43.2 ± 31.4 ± 15.6 ± 14.2 ± 1.6 X X X X ± 14.5 X X Apr. from Apr % -5.1% 19.7% 4.1% -13.7% 11.2% X X X X 11.8% X X. 90 percent confidence interval ± 11.3 ± 40.1 ± 30.4 ± 17.2 ± 15.2 ± 5.6 X X X X ± 15.2 X X 1 Seasonally-adjusted houses sold are published at annual rates 2 Ratio of houses for sale to houses sold 3 Average relative standard error for the latest 6-month period 4 Computed using unrounded data 5 See the Explanatory Notes in the accompanying text for an explantion of 90 percent confidence intervals Months' supply 2 Median sales price ($) Average sales price ($) Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Sales, May 23,.

4 New Privately-Owned Houses Sold and For Sale Table 1b - Not seasonally adjusted United States Sold during period Northeast Midwest South West United States For sale at end of period Northeast Midwest South West 2015 Annual X 296, , Annual X 316, ,500. RSE (%) X Year to date X X X X X X X X Year to date X X X X X X X X. RSE (%) X X X X X X X X Year to date percent change⁴ % 14.8% 25.6% 10.1% 7.0% X X X X X X X X. 90 percent confidence interval ± 6.7 ± 30.5 ± 16.7 ± 9.3 ± 9.6 X X X X X X X X 2015 January , ,000 February , ,900 March , ,700 April , ,700 May , ,800 June , ,300 July , ,900 August , ,800 September , ,800 October , ,900 November , ,800 December , , January , ,600 February , ,400 March , ,700 April , ,000 May , ,000 June , ,300 July , ,000 August , ,700 September , ,800 October , ,600 November , ,600 December , ,100 January (r) , ,800 February (r) , ,800 March (r) , ,400 April (p) , ,300. Average RSE (%) Seasonally-adjusted houses sold are published at annual rates 2 Ratio of houses for sale to houses sold 3 Average relative standard error for the latest 6-month period 4 Computed using unrounded data 5 See the Explanatory Notes in the accompanying text for an explantion of 90 percent confidence intervals Months' supply Median sales price ($) Average sales price ($) Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Sales, May 23,.

5 New Privately-Owned Houses Sold, by Sales Price Table 2a - Number of Houses 1 Total $150,000 $150,000 to $199,999 $200,000 to $299,999 Price Ranges $300,000 to $399,999 $400,000 to $499,999 $500,000 to $749,000 $750,000 and over 2015 Annual Annual RSE (%) January February March April May June July August September October November December January February March April May June July August September October November December January (r) February (r) March (r) April (p) Average RSE (%) Houses for which sales price was not reported have been distributed proportionally to those for which sales price was reported 2 Average relative standard error for the latest 6-month period Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Sales, May 23,.

6 New Privately-Owned Houses Sold, by Sales Price Table 2b - Percent Distribution Total $150,000 $150,000 to $199,999 $200,000 to $299,999 Price Ranges $300,000 to $399,999 $400,000 to $499,999 $500,000 to $749,000 $750,000 and over 2015 Annual Annual SE (%) X January February March April May June July August September October November December January February March April May June July August September October November December January (r) February (r) March (r) April (p) SE (%) X Houses for which sales price was not reported have been distributed proportionally to those for which sales price was reported 2 Average relative standard error for the latest 6-month period Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Sales, May 23,.

7 New Houses Sold and For Sale by Stage of Construction and Median Number of Months on Sales Market Table 3a - Seasonally adjusted Total Sold during period 1 For sale at end of period Median months for Not started construction Completed Total Not started construction Completed sale (r) January X February X March X April X May X June X July X August X September X October X November X December X 2016 (r) January X February X March X April X May X June X July X August X September X October X November X December X January (r) X February (r) X March (r) X April (p) X. Average RSE (%) X 1 Seasonally-adjusted houses sold are published at annual rates 2 Median number of months for sale since completion 3 Average relative standard error for the latest 6-month period Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Sales, May 23,.

8 New Houses Sold and For Sale by Stage of Construction and Median Number of Months on Sales Market Table 3b - Not seasonally adjusted Total Sold during period For sale at end of period Median months for Not started construction Completed Total Not started construction Completed sale Annual Annual RSE (%) January February March April May June July August September October November December January February March April May June July August September October November December January (r) February (r) March (r) April (p) Average RSE (%) Seasonally-adjusted houses sold are published at annual rates 2 Median number of months for sale since completion 3 Average relative standard error for the latest 6-month period Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development, New Residential Sales, May 23,.

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