Chart of the Day: New home sales for April surged to 11-month high

Despite sluggish YTD performance.

New home sales hit a new record high of 1,124 in April, after hovering around the 200-800 units range from June 2014 to March 2015.

According to a report by RHB Group, new home sales (excluding EC) were up 47.5%/83.4%YoY/MoM vis-a-vis 613 units in March 2015, 390 units in Feb 15, and 376 units in Jan 15.

However, despite the higher new home sales in the previous month, YTD figure still look sluggish at 2,503 units vis-à-vis 2,553 units in Jan-Apr 14 and 6,893 units in Jan-Apr 13.

RHB adds that the prior month, new home sales was mainly supported by two new project launches (North Park Residences by Frasers Centrepoint Limited & Botanique at Bartley by UOL Group), accounting 65.8% of the total new home sales (excl. EC)