Switch to Desktop Site
 
 

Home sales index rises in May, up 13.3 percent from 2011

(Read article summary)
Image

SoldAtTheTop

(Read caption) This chart shows single family home sales since 2004. There has been a drastic decline in sales since the market bubble burst, but recent numbers indicate an upswing in the sales index, which could signify a bottoming-out of the market as the summer selling season heats up.

About these ads

Recently, the U.S. Census Department released its monthly New Residential Home Sales Report for May showing a notable monthly increase with sales climbing 7.6% since April and rising 19.8% above the level seen in May 2011 but remaining at an historically low level of 369K SAAR units.

It's important to recognize that the inventory of new homes remained near the low for the series at 145K units, nearly the lowest level seen in in at least 47 years while the median number of months for sale went flat at 7.9.

The monthly supply declined to 4.7 months while the median selling price increased 5.63% and the average selling price increased 4.26% from the year ago level.

The following chart shows the extent of sales decline to date.


Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.

Share

Loading...