May New Home Sales Rose 18.6% to 504K Annual Rate, Best Since May 2008 (XHB)

(Updated - June 24, 2014 10:18 AM EDT)

May new home sales rise 18.6% to 504K annual rate, the highest since May 2008.

UPDATE - More from the Census Bureau PR:

Sales of new single-family houses in May 2014 were at a seasonally adjusted annual rate of 504,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 18.6 percent (±17.3%) above the revised April rate of 425,000 and is 16.9 percent (±19.6%)* above the May 2013 estimate of 431,000.

The median sales price of new houses sold in May 2014 was $282,000; the average sales price was $319,200. The seasonally adjusted estimate of new houses for sale at the end of May was 189,000. This represents a supply of 4.5 months at the current sales rate.

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