A news release yesterday from the U.S. Census Bureau indicated that, “Sales of new single-family houses in May 2018 were at a seasonally adjusted annual rate of 689,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.7 percent above the revised April rate of 646,000 and is 14.1 percent above the May 2017 estimate of 604,000.
Monthly New Residential Sales, May 2018- Release Number: CB18-97 (June 25, 2018).
“The median sales price of new houses sold in May 2018 was $313,000. The average sales price was $368,500.
“The seasonally-adjusted estimate of new houses for sale at the end of May was 299,000. This represents a supply of 5.2 months at the current sales rate.”
