New home sales increase in May

Sales of new single‐family houses in May 2023 were at a seasonally adjusted annual rate of 763,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. 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 2023 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 at the current sales rate.

Read the Census/HUD release.