Steel Markets
June 22, 2015
New & Existing Home Sales Both Gain In May
Written by Sandy Williams
New home sales were at a seven year high in May, climbing 2.2 percent from April to an a seasonally adjusted annual rate of 546,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. Sales outpaced the Bloomberg forecast of 523,000 and were 19.5 percent above the May 2014 estimate. April’s SAAR was adjusted to 534,000 from 517,000.
The median sales price of new houses sold in May dropped by 1 percent to $282,800; the average sales price was $337,000. Approximately 206,000 homes were for sale at the end of May. This represents a supply of 4.5 months at the current sales rate, down from 4.6 months in April.
