Monday, October 2, 2023 | The Latest Buzz for the Appraisal Industry

New Home Sales Rebounded in May

After tumbling more than 16% in April, new home sales rebounded in May, rising 10.7% to reach a seasonally adjusted annual rate of 696,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. 

However, new home sale were down 5.9% compared with May 2021.

The median sales price of a new home sold in May was $449,000. The average sales price was $511,400.

As of

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