Market Updates
New Home Sales Jumped In May
Brian Turner
27 Jun, 2023
New York City
New home sales jumped 12.2% to 763,000 on a seasonally adjusted basis, U.S. Census Bureau reported Tuesday.
The annual rate jumped to a high not seen since February of last year and increased 20% from a year ago when the annual rate estimate was 636,000.
The median sales price of new houses sold in May was $416,300 and the average sales price was $487,300 compared to $450,700 and $521,500 respectively a year ago.
Home sales in the Northeast increased 17.6% to 40,000, in the West rose 17.4% to 175,000, in the Midwest increased 4.1% to 77,000 and in the South jumped 11.3% to 471,000.
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