U.S. New Residential Single-Family Home Sales Up Month-Over-Month & Year-Over-Year in May 2023

The U.S. Census Bureau and the Dept. of Housing and Urban Development jointly announced on Tuesday (6-27-23) that new residential single-family home sales for May were at a SAAR of 763,000. This is 12.2% above the revised April rate of 680,000 and is 20.0% above the May 2022 estimate of 636,000.

The median sales price of new houses sold in May was $416,300. The average sales price was $487,300.

The seasonally adjusted estimate of new houses for sale at the end of May was 428,000. This represents a supply of 6.7 months based on the current rate of sales.