Tuesday, June 24, 2014

New Home Sales: May 2014

Today, the U.S. Census Department released its monthly New Residential Home Sales Report for May showing a notable improvement with sales climbing 18.6% from April rising a whopping 16.9% above the level seen in May 2013 but still remaining near an historically low level with 504K SAAR units.

The monthly supply declined to 4.5 months while the median selling price increased 6.94% and the average selling price increased 1.66% from the year ago level.

The following chart show the extent of sales decline to date (click for full-larger version).