The seasonally adjusted annual pace of new single-family home sales in the U.S. rose to 369,000 in May, up 7.6 percent from a revised rate of 343,000 in April and 19.8 percent above the 308,000 pace recorded in May 2011.
Preliminary U.S. new home sales (versus pace) in May were estimated to be 35,000 (give or take 8 percent), up 2,000 from April, the fourth slowest May on record since 1963. May sales peaked in 2005 with 120,000 new homes sold.
In the West, the pace of new home sales was up 10.8 percent year-over-year to 82,000 in April, down 3.5 percent versus the month before.
Annual new home sales in the U.S. have averaged 671,000 since 1963, peaking at 1,283,000 in 2005, bottoming at 306,000 last year.
∙ New Residential Sales: April 2012 [census.gov]
∙ U.S. New Home Sales: Up 9.9% YOY In April But Well Below Average [SocketSite]
∙ New Residential Sales Since 1963 [census.gov]