Sales of new single‐family houses across the United States soared by significantly more than expected 12.2% in May compared to the previous month to reach a seasonally adjusted annual rate of 763,000. The data improved at the fastest pace in over a year, and registered the third consecutive monthly growth.
According to a report published by the Census Bureau on Monday, the figure is 12.2% above the revised April rate of 680,000 as well as 20% above the May 2022 estimate.
The median sales price of new houses sold last month stood at $416,300, while the average sales price was $487,300. The seasonally‐adjusted estimate of new homes for sale at the end of May was 428,000, representing a supply of 6.7 months at the current sales rate.
