Industry News Market Update News

New Home Sales in U.S. Rose in May

Photo by Maximillian Conacher on Unsplash

Sharon Nunn & Paul Kiernan |

WASHINGTON—Sales of new homes in the U.S. rose heading into the summer months, despite high selling prices and low home inventory.

Purchases of newly-built single-family homes—a relatively narrow slice of all U.S. home sales—grew 6.7% to a seasonally adjusted annual rate of 689,000 in May, the Commerce Department said Monday. Economists surveyed by The Wall Street Journal had expected a smaller 0.9% increase.

From the prior year, sales increased 14.1% in May. The pace of new-home sales still remains well below the elevated levels seen before the 2007-09 financial crisis and recession.

New-home sales data can be volatile. May’s 6.7% gain came with a margin of error of 14.1 percentage points.

Read the rest of the article by clicking here.

Related posts

All across the country the housing market remains hot, and 34% of buyers were first-time homebuyers.


Pierce County residents see double-digit property tax increases


Washington REALTORS® Expect Median Price to Increase 4 to 5 Percent.