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New Home Sales Hits 12-Month Low in May

June 23, 2021 by Forex Winner Leave a Comment

New Home Sales Hits 12-Month Low in May

Source: U.S. Census Bureau and U.S. Department of Housing and Urban Development

Sales of new single-family houses in the United States dropped by 5.9% in May to mark the worst performance in a year.

  • The seasonally adjusted annual sales rate stood at 769,000. This is the lowest since May 2020’s 704,000.
  • There were 330,000 new houses for sale during the month, the most since at least May 2020’s 312,000.
  • The houses for sale in May translates to a supply of 5.1 months at the current sales rate.
  • The median sales price for new houses was recorded at $374,000, while the average sales price was $430,600.

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