CFAH

Pace of U.S. New Home Sales in May

The seasonally adjusted pace of new single-family home sales in the U.S. gained 2.2 percent in May to annual rate of 546,000 sales.  The current pace is 19.5 percent higher than at the same time last year (versus 26.1 percent higher on a year-over-year basis in April) but remains 20 percent below than the long-term average of 653,000 as measured in May.

The pace of new single-family home sales in May peaked at 1,286,000 in 2005, 136 percent higher than last month.

In the West, the pace of new home sales gained 13.1 percent from April to May, reversing a two-month slide.  The current pace is 25.5 percent higher as compared to the same time last year.

And in terms of inventory, the number of new single-family homes for sale in the U.S. is currently 206,000, unchanged from April but up 6.2 percent versus the same time last year.

Comments from Plugged-In Readers

  1. Posted by curmudgeon

    The population base of the US was so much smaller in 1963 that this time series is nearly meaningless. It would be more meaningful to see it plotted against something like net change in population, or net new household formation.

    • Posted by Tobias

      If the time series analysis was done correctly, the data should be de-trended and seasonally adjusted, which would account for an increase in population.

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