Tuesday, June 23, 2015

New Home Sales Rose 2.2% in May

Sales of new single-family houses in May rose to a seasonally adjusted annual rate of 546,000 according to the U.S. Census Bureau and Department of Housing and Urban Development. The May rate is 2.2% above the revised April rate of 534,000 and is 19.5% above the year-ago rate of 457,000.

New home sales increased in two of the four regions. Sales in the Northeast rose 87.5% on the month to 30,000 new homes, and sales in the West rose 13.1% to 138,000. The Midwest and South regions saw declines in sales, falling 5.7% and 4.3% respectively.

The median sales price of new homes sold in May was $282,800, down 2.9% from April. The average price was $337,000, up 0.9% on the month.

At the end of May, there was an estimated supply of 4.5 months at the current sales rate.

Read the Census release

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