Sales of new single-family houses in May 2016 were at a seasonally adjusted annual rate of 551,000, according to estimates released jointly today by the US Census Bureau and the Department of Housing and Urban Development.
This is 6.0 percent (±12.8 percent) below the revised April rate of 586,000, but is 8.7 percent (±14.6 percent) above the May 2015 estimate of 507,000.
The median sales price of new houses sold in May 2016 was $290,400; the average sales price was $358,900. The seasonally adjusted estimate of new houses for sale at the end of May was 244,000. This represents a supply of 5.3 months at the current sales rate.