New Home Sales Up 6.7% in May

The U.S. government is reporting that sales of new single-family houses in May, 2018, were at a seasonally adjusted annual rate of 689k, which is 6.7% higher than April’s revised rate and 14.1% higher than May, 2017.  The median sales price of new houses sold in May was $313,000 and the average sales price was $368,500.  There were an estimated 299k new houses for sale at the end of May representing a 5.2 months supply at the current sales rate.

Click here to read the full report on Census.gov.