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U.S.Economy: 
New Home Sales Drop 0.6% in May
Author: 123jump.com Staff
123jump.com
Last Update: 10:20 AM ET June 24 2009


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Sales of new one-family houses in May 2009 were at a seasonally adjusted annual rate of 342,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.6% below the revised April rate of 344,000 and is 32.8% below the May 2008 estimate of 509,000.

 
The following is the unedited transcript of the news release from the U.S. Department of Commerce.


Sales of new one-family houses in May 2009 were at a seasonally adjusted annual rate of 342,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 0.6 percent (±17.8%)* below the revised April rate of 344,000 and is 32.8 percent (±10.9%) below the May 2008 estimate of 509,000.

The median sales price of new houses sold in May 2009 was $221,600; the average sales price was $274,300. The seasonally adjusted estimate of new houses for sale at the end of May was 292,000. This represents a supply of 10.2 months at the current sales rate.



Available at:

http://www.census.gov/const/newressales.pdf
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