Home Sales Down 11.4% in May, but Still Rise Slightly YOY

Washington, DC, May 23, 2017-Sales of new single-family houses in April 2017 were at a seasonally adjusted annual rate of 569,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development, 11.4% below the revised March rate of 642,000, but is 0.5% above the April 2016 estimate of 566,000.

The median sales price of new houses sold in April 2017 was $309,200. The average sales price was $368,300.

The seasonally-adjusted estimate of new houses for sale at the end of April was 268,000. This represents a supply of 5.7 months at the current sales rate.