New Home Sales surged to 610,000

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Friday, Jun 23 2017

New Home Sales surged to 610,000

Sales of new single-family houses in May 2017 were at a seasonally adjusted annual rate of 610,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 2.9 percent above the revised April rate of 593,000 and is 8.9 percent above the May 2016 estimate of 560,000.

The median sales price of new houses sold in May 2017 was $345,800. The average sales price was $406,400. The seasonally-adjusted estimate of new houses for sale at the end of May was 268,000. This represents a supply of 5.3 months at the current sales rate.

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