U.S. New Home Sales Climb 12.2% in May
Average selling price runs $487,300.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for May 2023:
New Home Sales
Sales of new single?family houses in May 2023 were at a seasonally adjusted annual rate of 763,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
This is 12.2 percent (±12.8 percent)* above the revised April rate of 680,000 and is 20.0 percent (±15.5 percent) above the May 2022 estimate of 636,000.
Sales Price
The median sales price of new houses sold in May 2023 was $416,300. The average sales price was $487,300.
For Sale Inventory and Months’ Supply
The seasonally?adjusted estimate of new houses for sale at the end of May was 428,000. This represents a supply of 6.7 months at the current sales rate.
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