Sales of new single-family homes in the United States jumped 16.6 percent month-over-month to an annualized rate of 676 thousand in May of 2020, beating forecasts of a 2.9 percent rise. However, data for April was revised sharply lower to 580 thousand from 623 thousand. Still, May's figure is the highest in three months. Sales jumped 45.5 percent in the Northeast (to 32 thousand), 29 percent in the West (to 169 thousand) and 15.2 percent in the South (to 402 thousand) but fell 6.4 percent in the Midwest (to 73 thousand). There were 318,000 new homes on the market, down 2.2 percent from April. At May's sales pace it would take 5.6 months to clear the supply of houses on the market. The median new house price rose to USD 317,900 from USD 312,700 a year ago. Year-on-year new home sales jumped 12.7 percent.
New Home Sales in the United States averaged 650.93 Thousand units from 1963 until 2020, reaching an all time high of 1389 Thousand units in July of 2005 and a record low of 270 Thousand units in February of 2011. This page provides the latest reported value for - United States New Home Sales - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. United States New Home Sales - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: U.S. Census Bureau
New Home Sales in the United States is expected to be 680.00 Thousand units by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate New Home Sales in the United States to stand at 620.00 in 12 months time. In the long-term, the United States New Home Sales is projected to trend around 560.00 Thousand units in 2021 and 590.00 Thousand units in 2022, according to our econometric models.