In a Positive Sign, New Home Sales Hold Steady in April
In a sign that the housing market is stabilizing in the wake of the COVID-19 pandemic, sales of newly built, single-family homes rose 0.6% to a seasonally adjusted annual rate of 623,000 units in April, according to newly released data by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau. The April rate is 6.2% lower than the April 2019 pace.
“The April data for new home sales show the potential for housing to lead any recovery for the overall economy,” said NAHB Chairman Dean Mon. “Because the housing industry entered this downturn underbuilt, there exists considerable pent-up housing demand on the sidelines. The experience of the virus mitigation has emphasized the importance of home for most Americans.”
“The April estimates from Census came in better than forecast, so there is a possibility of a downward revision in the next release,” said NAHB Chief Economist Robert Dietz. “Nonetheless, the data matches recent commentary from builders and reflects recent gains in mortgage applications. Despite significant challenges in overall economic conditions, the months’ supply held steady at a reasonably healthy level of 6.3”
A new home sale occurs when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. In addition to adjusting for seasonal effects, the April reading of 623,000 units is the number of homes that would sell if this pace continued for the next 12 months.
Inventory edged lower to a 6.3 months’ supply, with 325,000 new single-family homes for sale, 3% lower than April 2019. Of that total, just 78,000 are completed, ready to occupy. The median sales price was $303,900. The median price of a new home sale a year earlier was $339,000. Median prices were lower due to increased use of builder price incentives in April.
Regionally, new home sales were up 8.7% in the Northeast, 2.4% in the Midwest and 2.4% in the South. New home sales were down 6.3% in the West.
Latest from NAHBNow
Economics | Housing Affordability
Mar 05, 2026
Affordability Posts Mild Gains in Second Half of 2025 but Crisis ContinuesThough new and existing homes remain largely unaffordable, the needle moved slightly in the right direction in the second half of 2025, according to the latest data from the NAHB/Wells Fargo Cost of Housing Index (CHI). The CHI results from the fourth quarter of 2025 show that a family earning the nation’s median income of $104,200 needed 34% of its income to cover the mortgage payment on a median-priced new home. Low-income families, defined as those earning only 50% of median income, would have to spend 67% of their earnings to pay for the same new home.
Economics | Remodeling
Mar 04, 2026
Top Markets for Remodeling in 2024Residential improvement activity remained solid in 2024, supported by an aging housing stock, elevated homeowner equity, and a growing need for aging-in-place improvements. Based on NAHB analysis of data from home improvement loan applications, see which markets saw the most remodeling activity.
Latest Economic News
Economics
Mar 03, 2026
Multifamily Absorption Rate Remains Below 50%The percentage of new apartment units that were absorbed within three months after completion was unchanged for new units completed in the second quarter, according to the Census Bureau’s latest release of the Survey of Market Absorption of New Multifamily Units (SOMA).
Economics
Mar 02, 2026
Private Residential Construction Spending Edges Higher in DecemberPrivate residential construction spending was up 1.5% for the last month of 2025. This modest gain was driven primarily by increased spending on home improvements and single-family construction. Despite this increase, total spending remained 1.3% lower than a year ago, reflecting the continued impact of housing affordability challenges facing the sector.
Economics
Mar 02, 2026
2024 Home Improvement Loan Applications: A State- and County-Level AnalysisResidential improvement activity remained solid in 2024, though growth has moderated from the surge seen in 2022.