New home sales rose again in April as buyers looked to new construction due to the low inventory of existing homes for sale.
There were 683,000 new home sales in the U.S. in April, according to the U.S. Census Bureau, up 4% from March and 11.8% compared to last April. April marks the fifth month in a row that new home sales have increased.
"While existing home sales are slowing this spring in the wake of high interest rates keeping sellers locked in, new construction homes are picking up speed on a monthly basis," Zillow Senior Economist Nicole Bachaud said. "The backlog of new construction homes from the building boom across 2021 is working its way to the market, offering fresh listings for buyers who are facing more competition on fewer homes."
This article originally published at https://dc.urbanturf.com/articles/blog/five_months_in_a_row_new_home_sales_rose_again_in_april/21054.
Most Popular... This Week • Last 30 Days • Ever
The change would allow for an 80-acre portion of DC's 272-acre Armed Forces Retiremen... read »
The Capitol Hill home has been listed for sale that has a number of serious security ... read »
The listing will hit the market on Wednesday, according to the Washington Business Jo... read »
Today, UrbanTurf looks at what we think will be the metrics that will determine the d... read »
Located in the heart of Shaw, Intersect at O includes five elevator townhomes. The fi... read »
With interest rates reaching their highest levels in 22 years, it is critically impor... read »
The Church of the Epiphany has filed plans with the city to demolish the rear portion... read »
Just before the holiday, UrbanTurf is taking its semi-annual look at the neighborhood... read »
Plans have been filed with DC's Historic Preservation Office to convert the building ... read »
An application filed with DC this week signals the end is nigh for a McDonald's locat... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro