Today, the
U.S. Census Department released its monthly
New Residential Home Sales Report for May showing a decline with sales falling 6.0% from April but climbing 8.7% above the level seen in May 2015 and still remaining near an historically low level with 551K SAAR units.
The monthly supply increased to 5.3 months while the median selling price declined 9.3% and the average selling price declined 5.3% from the year ago level.
The following chart show the extent of sales decline to date (click for full-larger version).
