May 2013 New Residential Sales Surge 29 Percent over 2012

Rate climbs 2.1 percent month over month.

Sales of new single-family houses in May 2013 were at a seasonally adjusted annual rate of 476,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 2.1 percent (±16.6%)* above the revised April rate of 466,000 and is 29.0 percent (±17.5%) above the May 2012 estimate of 369,000.

The median sales price of new houses sold in May 2013 was $263,900; the average sales price was $307,800. The seasonally adjusted estimate of new houses for sale at the end of May was 161,000. This represents a supply of 4.1 months at the current sales rate.