According to the US Census Bureau and Department of Housing and Urban Development, new single-family home sales continued to climb in May. Compared to April, sales rose by 2.2% nationally on a seasonally adjusted annual rate, and were 19.5% greater than the same time last year. In the West, new single-family home sales also saw gains. Sales in May were 13.1% greater than in April, and were 25.5% higher than in May 2014.
While the average sales price increased from $333,900 in April to $337,000 in May, the median sales price declined from $291,100 in April to $282,800 in May. Inventory of new single-family homes for sale were estimated at 206,000 units, representing a 4.5-month supply. To read the full press release, visit http://1.usa.gov/1OxsIkW.