New Home Sales Up 7.6% In May

Posted by Orb Staff on June 25, 2012 No Comments
Categories : Residential Mortgage

11862_house_for_sale3 New Home Sales Up 7.6% In May Sales of new single-family houses in May were at a seasonally adjusted annual rate of 369,000, according to estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.6% above the revised April rate of 343,000 and 19.8% above the May 2011 estimate of 308,000.

The median sales price of new houses sold in May was $234,500; the average sales price was $273,900. The seasonally adjusted estimate of new houses for sale at the end of May was 145,000. This represents a supply of 4.7 months at the current sales rate.

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