New Home Sales Fell 7.8% in May

Washington, DC, June 25, 2019-Sales of new single‐family houses in May 2019 were at a seasonally adjusted annual rate of 626,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 7.8% below the revised April rate of 679,000 and is 3.7% below the May 2018 estimate of 650,000.

The median sales price of new houses sold in May 2019 was $308,000. The average sales price was $377,200.

The seasonally‐adjusted estimate of new houses for sale at the end of May was 333,000. This represents a supply of 6.4 months at the current sales rate.