May’s New-Home Sales Experience Expected Dip After April Spike
May 2016 is the second best month since 2008, with April 2016 being the best.
The median price of the new homes in May was $290,400.
After a huge jump in April, the number of new-home sales experienced an expected decline in May 2016.
The U.S. Department of Commerce announced on Thursday that the sales of new single-family houses were at a seasonally adjusted rate of 551,000, which is 6% below April’s rate of 586,000 and 8.7% above May 2015’s estimate of 507,000.
The average sales price of the new homes was $358,900, while the median price was $290,400, the U.S. Department of Commerce said. Meanwhile, the seasonally adjusted estimate of new houses for sale at the end of May was $244,000.
April’s 586,000 new homes were the most sold in a month since 2008. May’s mark is the second highest.
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Related Content
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Commercial Integrator + Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add to your bottom line.
A FREE subscription to the top resource for security and integration industry will prove to be invaluable.
