New Residential Home Sales Rebound in May 2022

Posted on June 24, 2022

The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced on Friday (6-24-22) that new residential single-family home sales for May 2022 were at a seasonally adjusted annual rated (SAAR) of 696,000, according to estimates. This is 10.7% above the revised April rate of 629,000 but is -5.9% below the May 2021 estimate of 740,000.

The median sales price of new houses sold in May was $449,000. The average sales price was $511,400.

The SAAR estimate of new houses for sale at the end of May was 444,000. This represents a supply of 7.7 months at the current sales rate.

FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.