New Home Sales Climb 7.6 Percent in May

Sales trend nearly 20 percent above one year ago.

Sales of new single-family houses in May 2012 were at a seasonally adjusted annual rate of 369,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.6 percent (±12.2%)* above the revised April rate of 343,000 and is 19.8 percent (±15.2%) above the May 2011 estimate of 308,000.

The median sales price of new houses sold in May 2012 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.