Posted June 28, 2023

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.