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New Home Sales an Astounding 19.5% Higher Year-Over-Year

Tuesday, June 23, 2015

The good news in housing continued this morning with a report on May new home sales.  According to the Census Bureau and the Department of Housing and Urban Development (HUD) sales of newly constructed homes rose 2.2 percent compared to April to a seasonally adjusted annual rate of 546,000 units.  May sales were thus a somewhat astounding 19.5 percent higher than in May 2014 when the rate was 457,000 units.  April's sales, already estimated at 6.4 percent higher than March was revised upward from 517,000 units to 534,000.  On a non-seasonally adjusted basis sales were estimated at 51,000, the same as in April.

 

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