New Home Sales for May

New Home Sales, which measures signed contracts on new homes, beat expectations just like this week’s Existing Home Sales Report.  Sales are up 8.9% year over year.  2.9% over April.  The Median New Home Sales Price rose 16.8% year over year to $345,800, which is the highest on record.

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Today’s report showed that we had the 3rd strongest selling pace in 10 years.

Here is the link to today’s full report from the U.S. Department of Commerce – https://www.census.gov/construction/nrs/pdf/newressales.pdf.

Thanks for reading and please let me know if you have any questions.

All the best,

Lee McLain

Time-to-Sell at a New Low

Great article breakdown the numbers from today.  The one that really caught my eye was that 55% of the homes sold in May, sold in less than a month.  If you are thinking about selling, now is a great time!

Existing Sales Rise, Prices Peak, Time-to-Sell at New Low

Thanks for reading,

Lee McLain