U.S. Census Bureau: Monthly New Residential Sales, May 2024

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 2024:

New Home Sales

Sales of new single-family houses in May 2024 were at a seasonally adjusted annual rate of 619,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 11.3 percent (±15.5 percent)* below the revised April rate of 698,000 and is 16.5 percent (±16.2 percent) below the May 2023 estimate of 741,000.

Sales Price

The median sales price of new houses sold in May 2024 was $417,400. The average sales price was $520,000.

For Sale Inventory and Months’ Supply

The seasonally-adjusted estimate of new houses for sale at the end of May was 481,000. This represents a supply of 9.3 months at the current sales rate.

The June report is scheduled for release on July 24, 2024. 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/>.

Source: U.S. Census Bureau