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Sunday, September 15, 2019
HomeNewsEconomyNew Home Sales Revised Higher for April, Down 7.8% for May

New Home Sales Revised Higher for April, Down 7.8% for May

An exchange showing one hand giving cash to the another for new house and keys, a vector illustration for new home sales. (Photo: AdobeStock)

New Residential Construction Not Matching Builder Confidence Levels

An exchange showing one hand giving cash to the another for new house and keys, a vector illustration for new home sales. (Photo: AdobeStock)
An exchange showing one hand giving cash to the another for new house and keys, a vector illustration for new home sales. (Photo: AdobeStock)

New home sales were revised higher by 6,000 for April, but came in at a seasonally adjusted annual rate of 626,000 for May, missing the forecast.

IndicatorPriorRevisedConsensus ForecastForecast RangeResult
New Home Sales – SAAR673 K679 K680 K649 K — 710 K626 K

This is 7.8% (±14.7%) below the revised rate of 679,000 for April and is 3.7% (±15.0%) below the May 2018 estimate of 650,000.

The median sales price of new houses sold in May 2019 was $308,000. The average sales price was $377,200. The seasonally‐adjusted estimate of new houses for sale at the end of May was 333,000. This represents a supply of 6.4 months at the current sales rate

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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