New Home Sales Fall in May

New single-family home sales were at a seasonally adjusted annual rate of 769,000 in May, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The May level is 5.9% below the revised April rate of 817,000, but is 9.2% above the May 2020 estimate of 704,000.

The median sales price of new houses sold in May 2021 was $374,400. The average sales price was $430,600.

At the end of May, the seasonally adjusted estimated supply at the current sales rate was at 5.1 months.

Read the Census/HUD release.