U.S. Census Bureau: Monthly New Residential Sales, May 2023

The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for May 2023:

New Home Sales

Sales of new single-family house in May 2023 were at a seasonally adjusted annual rate of 763,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 12.2 percent (+/- 12.8 percent)* above the revised April rate of 680,000 and is 20.0 percent (+/- 15.5 percent) above the May 2022 estimate of 636,000.

Sales Price

The median sales price of new houses sold in May 2023 was $416,300. The average sales price was $487,300.

For Sale Inventory and Months’ Supply

The seasonally-adjusted estimate of new houses for sale at the end of May was 428,000. This represents a supply of 6.7 month at the current sales rate.

The June report is scheduled for release on July 26, 2023. View the full schedule in the Economic Briefing Room: < www.census.gov/economic-indicators/ >.  The full text and tables for this release can be found at < www.census.gov/construction/nrs/ >.

* The 90 percent confidence interval includes zero. In such cases, there is insufficient statistical evidence to conclude that the actual change is different from zero.

Source: U.S. Census Bureau