Tuesday, May 23, 2017

A few Comments on April New Home Sales

by Bill McBride on 5/23/2017 12:26:00 PM

New home sales for April were reported at 569,000 on a seasonally adjusted annual rate basis (SAAR).  This was well below the consensus forecast, however the three previous months combined were revised up significantly. Overall this was a decent report.

Sales were only up 0.5% year-over-year in April.

Earlier: New Home Sales decrease to 569,000 Annual Rate in April.

New Home Sales 2015 2016Click on graph for larger image.

This graph shows new home sales for 2016 and 2017 by month (Seasonally Adjusted Annual Rate).  Sales were up 0.5% year-over-year in April.

For the first four months of 2017, new home sales are up 11.3% compared to the same period in 2016.

This was a strong year-over-year increase through April, however sales were weak in Q1 2016, so this was also an easy comparison.