New home sales in US jump 12.2% in May

By Ovunc Kutlu

ISTANBUL (AA) - New home sales in the US jumped 12.2% in May, compared to the previous month, according to a report Tuesday by the Census Bureau and the Department of Housing and Urban Development.

Sales of new single‐family homes were at a seasonally adjusted annual rate of 763,000, it said.

New home sales, which show the number of new single-family homes sold, were estimated to come in at 675,000 last month. The figure in April stood at 680,000.

New home sales in May were 20% above the same month last year when it stood at 636,000.

The median sales price of new houses sold was $416,300, while the average price was $487,300, according to the report.