The rate of new single-family home sales dropped 42 percent in April compared to the same month last year, the U.S. Census Bureau and Department of Housing and Urban Development reported.

New-home sales reached a seasonally adjusted annual sales rate of 526,000 in April -- this rate is a projection of a monthly sales total over a 12-month period, adjusted to account for seasonal fluctuations in sales activity.

The rate was up 3.3 percent from a 17-year low recorded in March 2008, though the Census Bureau notes that monthly changes can show irregular movement and it can take five months to establish a trend in sales data.

Regionally, the sales rate dropped about 58 percent in the Northeast, 41.7 percent in the South, 39.7 percent in the Midwest and 37.8 percent in the West in April 2008 compared to April 2007, according to the report.

The sales data is based on a survey of a sample of homes selected from building permits and a sale is defined as a deposit taken or a signed sales agreement.

The median sales price of new homes sold in April was $246,100, up 1.5 percent compared to April 2007, and the average sales price was $321,000, up 3 percent.

Last week, the National Association of Realtors trade group reported that the median price of resale homes dropped 8 percent in April 2008 compared to April 2007, with sales of single-family resale homes falling 17.5 percent year-over-year in April.

http://www.joinsellstatenewjersey.com

 Learn More About Sellstate Opportunities and How You Can Earn A Monthly Income For Life! Unlimited Growth Opportunities With Sellstate Franchises, sellstate, access, nj, NJ, real estate agents, real estate brokers, find a real estate company, sellstate new jersey, join sellstate access realty, real estate training and support, real estate license

 http://www.sellstateaccess.com

 Sellstate Access Realty Network is a full service real estate company serving New Jersey. Search MLS

listings, home values and market information. Sellstate Access, Access New Jersey, new jersey real estate, NJ real estate, NJ homes for sale, new jersey , homes for sale, real estate agents, foreclosures in new jersey, bank owned properties in new jersey, waterfront homes, luxury homes, residential homes, commercial real estate, multi-family

INTERESTED IN A NEW JERSEY REAL ESTATE CAREER! VISIT US AT WWW.NJREALESTATECAREER.COM / WWW.JOINSELLSTATENEWJERSEY.COM

WATCH THE VIDEO AT: www.njrealestatecareer.com/video

NEW JERSEY HOMES, NORTHERN NEW JERSEY HOMES, CENTRAL NEW JERSEY HOMES, UNION COUNTY HOMES, SOMERSET COUNTY HOMES, HUNTERDON COUNTY HOMES, SCOTCH PLAINS HOMES,WATCHUNG HOMES,WARREN HOMES, NORTH PLAINFIELD HOMES, BRIDGEWATER HOMES, GREEN BROOK HOMES, BERKLEY HEIGHTS HOMES, SUMMIT HOMES, WESTFIELD HOMES, CRANFORD HOMES AND MORE.....

JOSEPH ROMANO, BROKER/OWNER/WATCHUNG NJ/SELLSTATE ACCESS REALTY/ SELLSTATE ACCESS NEW JERSEY 908-429-4200