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New Home Sales Beat Expectations

By Vasyl

United States Of America – New home sales in the United States beat expectations in May 2022 according to new data released from the U.S. Census.

Here is the facts:

New Home Sales For May 2022

  • Sales of new single family houses in May 2022 were at a seasonally adjusted annual rate of 696,000.
  • This is 10.7% (18.9%)* higher than the revised April rate of 629,000, but 5.9% (22.0%)* lower than the May 2021 estimate of 740,000.

Sales Price For New Homes In May 2022

  • In May 2022, the median sales price of new houses sold was $449,000.
  • The average price for a home was $511,400.

Inventory Of New Homes In May 2022

  • At the end of May, the seasonally adjusted estimate of new houses for sale was 444,000.
  • At the current sales rate, this equates to 7.7 months of supply.

 

Source U.S. Census

#geoweek #geoweek2023 #geospatial

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