New Residential Single-Family Homes Sales Decline Month-Over-Month in May

The U.S. Census Bureau reported that new residential single-family home sales for May 2021 were at a SAAR of 769,000, according to estimates. This is -5.9% below the revised April rate of 817,000 but is 9.2% above the May 2020 estimate of 704,000. The seasonally adjusted estimates of new houses for sales at the end of May was 330,000. This represents a 5.1 months’ supply based on the current rate of sales. The median sales price of new houses sold in May 2021 was $374,400. The average sales price was $430,600.