New home sales continue climb in May

Sales increase 2.2 percent over April; average price is $337,000.

Sales of new single-family houses in May 2015 were at a seasonally adjusted annual rate of 546,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 2.2 percent (±16.7%)* above the revised April rate of 534,000 and is 19.5 percent (±19.7%)* above the May 2014 estimate of 457,000.

The median sales price of new houses sold in May 2015 was $282,800; the average sales price was $337,000. The seasonally adjusted estimate of new houses for sale at the end of May was 206,000. This represents a supply of 4.5 months at the current sales rate.