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The Week Ahead: Spotlight on New Home Sales

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development will announce the statistics for the sale of new homes in April, on Wednesday, May 23, 2018. The data looks at new home sales for single-family houses and also looks at the sales price as well as existing inventory and months’ supply at current sale rates.

In March, the bureau had reported that new home sales for single-family homes were at a seasonally adjusted annual rate of 694,000, a 4 percent rise over the revised February rate of 667,000. On a year-over-year basis, home sales increased 8.8 percent from 638,000 in April 2017. The median sale prices of new homes stood at $337,000 in March and the average sales price was $369,000. The for sale inventory in March was estimated at 301,000 representing a 5.2 months’ supply at the current sales rate.

Here’s what else is in store in The Week Ahead:

  • Chicago Fed National Activity Index, Monday, 8:30 a.m. EST
  • Redbook, Tuesday, 8:55 a.m. EST
  • MBA Mortgage Applications, Wednesday, 7 a.m. EST
  • Stern & Eisenberg New York State Compliance Webinar, Wednesday, 1 p.m. CT
  • FHFA Home Price Index, Thursday, 9 a.m. EST
  • NAR Existing Home Sales Report, Thursday, 10 a.m. EST
  • Fed Chairman Jerome Powell Speaks, Friday, 9:20 a.m. EST

About Author: Radhika Ojha

Radhika Ojha, Online Editor at the Five Star Institute, is a graduate of the University of Pune, India, where she received her B.A. in Commerce with a concentration in Accounting and Marketing and an M.A. in Mass Communication. Upon completion of her master’s degree, Ojha worked at a national English daily publication in India (The Indian Express) where she was a staff writer in the cultural and arts features section. Ojha also worked as Principal Correspondent at HT Media Ltd and at Honeywell as an executive in corporate communications. She and her husband currently reside in Dallas, Texas. You can contact her at Radhika.Ojha@theMReport.com.

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