Association of the Wall and Ceiling Industry Logo

New Home Sales Fall 6 Percent in May from Strong April Reading

Sales of newly built, single-family homes dropped 6 percent in May from a downwardly revised April reading to a seasonally adjusted annual rate of 551,000 units, according to data released June 23, 2016, by the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.


The inventory of new homes for sale was 244,000 in May, which is a 5.3-month supply at the current sales pace. The median sales price of new houses sold was $290,400. Regionally, new home sales rose by 12.9 percent in the Midwest. Sales fell by 0.9 percent in the South, 15.6 percent in the West and 33.3 percent in the Northeast.

Browse Similar Articles

You May Also Like

The U.S. Department of Labor announced a final rule clarifying the rights of employees to authorize a representative to accompany an Occupational Safety and Health Administration compliance officer during an inspection of
New research has ranked the United States’ most populated industries and estimated what their pay could look like in 2033, in line with inflation, and the results are surprising.
AWCI's Construction Dimensions cover

Renew or Subscribe Today!