May 27 (UPI) — Sales for new single-family homes rose 0.6 percent in April, buoyed by a nearly 9 percent increase in the Northeast, according to figures released by the U.S. Census Bureau on Tuesday.
The report said April new home sales rose at a seasonally adjusted rate of 623,000, a mark slightly above the 619,000 revised numbers in March. Compared with April 2019, new home sales are down 6.2 percent.
Sales in the Northeast increased 8.7 percent in April while home sales jumped in the Midwest and South as well (2.4 percent). Those numbers were able to offset a 6.3 percent drop in new home sales in the West.
The report said that 325,000 new homes came online for sale in April, while the median price for the homes was $309,900. The average sales price was $364,500.
“As consumers spent long weeks at home, they discovered the value of additional space and updated kitchens,” George Ratiu, a senior economist at Realtor.com, said. “As remote work policies are being extended into 2021 by a growing number of companies, and likely to become permanent in some cases, demand for home offices is projected to grow.”
