New-Home Sales Slightly Slip

April new-home sales slightly slipped, down 1.5 percent to 662,000, according to the Commerce Department. The average new-home sales price was $407,300, while the median was $312,400. New-home listing inventory was 300,000, representing 5.4-months supply.
“Even with this minor dip, new-home sales continue to trend upward and reflect builders’ overall confidence in the market,” said Randy Noel, chairman of the National Association of Home Builders (NAHB), in a statement. “