Disclaimer: The information provided on the Timber Exchange Market Data Hub is sourced from a variety of publicly available data sources and confidential sources that have not been independently verified. Timber Exchange is not responsible for any expenses, damages, losses, or costs incurred as a result of using or relying on the information provided on this site. By using the Timber Exchange Market Data Hub, you agree to use the information at your own risk and acknowledge that any decisions made based on the information provided are done so solely at your own risk.
New US residential home sales fall 11% in May
Posted on July 1, 2024 |
In May, new single-family home sales in the US were at a seasonally adjusted annual rate (SAAR) of 619,000, down 11.3% from April's revised rate of 698,000 and 16.5% from May 2023's 741,000.
The median price for new homes sold in May was $417,400, and the average price was $520,000.
By the end of May, there were 481,000 new homes available for sale, seasonally adjusted.
This inventory represents a 9.3-month supply based on the current sales pace.
The market has seen a significant drop in both sales and prices compared to earlier months and the previous year.