Sales of new single-family houses in May 2010 were at a seasonally adjusted annual rate of 300,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.
This is 32.7 percent below the revised April rate of 446,000 and is 18.3 percent below the May 2009 estimate of 367,000.
Here is a longer term look at New Home Sales.
The median sales price of new houses sold in May 2010 was $200,900; the average sales price was $263,400. The seasonally adjusted estimate of new houses for sale at the end of May was 213,000. This represents a supply of 8.5 months at the current sales rate.
10:00 23Jun10 RTRS-US MAY SINGLE-FAMILY HOME SALES RECORD LOW 300,000 UNIT ANNUAL RATE (CONS 410,000) VS APRIL 446,000 (PREV 504,000)
10:00 23Jun10 RTRS-US MAY SINGLE-FAMILY HOME SALES RECORD -32.7 PCT VS APRIL +14.7 PCT (PREV +14.8 PCT)
10:00 23Jun10 RTRS-US MAY HOME SALES NORTHEAST -33.3 PCT, MIDWEST -23.9 PCT, SOUTH -25.4 PCT, WEST -53.2 PCT
10:00 23Jun10 RTRS-US MAY NEW HOME SUPPLY 8.5 MONTHS' WORTH AT CURRENT PACE VS APRIL 5.8 MONTHS
10:00 23Jun10 RTRS-US HOMES FOR SALE AT END OF MAY 213,000 UNITS, LOWEST SINCE NOVEMBER 1970, VS APRIL 214,000 UNITS
10:00 23Jun10 RTRS-TABLE-U.S. May single-family home sales fall 32.7 pct
S&P futures are falling, currently -6.75 at 1083.75. 10s are rallying, now +0-16 at 103-11 yielding 3.108%. The FN 4.0 is +0-06 at 100-30 and the FN 4.5 is +0-06 at 103-14. Loan pricing should be about 25bps better this morning.
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