While existing-home sales largely stalled in May, the new home sector saw quite a sales boost. According to the U.S. Census Bureau, sales of new single‐family houses in May 2023 were up 12.2 percent above April rate and is 20 percent above the May 2022 estimate of 636,000.
The median sales price of new houses sold in May 2023 was $416,300. The average sales price was $487,300.
The seasonally‐adjusted estimate of new houses for sale at the end of May was 428,000—a supply of 6.7 months at the current sales rate.