June 23, 2011
Home Sales Fall In May
New home sales across the country fell in May by 2.1 percent, according to the U.S. Census Bureau and Department of Housing and Urban Development.
Sales across the country fell in May to a seasonally adjusted 319,000 units, down 7,000 units from April's revised sales figures of 326,000.
The median sale price of new homes sold in May was $222,000. The average sale price was $266,400. The seasonally adjusted estimate of new houses for sale at the end of May was $166,000, which could supply the market for more than six months at the current sales rate.
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