June 24, 2010
National New Home Sales Plummet
By Matthew L. Brown
Sales of new, single-family homes fell to an annual rate of 300,000 nationwide last month, the lowest level since the government began tracking that statistic in the 1960s, according to the U.S. Census Bureau.
May's rate was 32.7 percent below April's and 18.3 percent behind May 2009.
The median price of new homes sold in May was $200,900. The average price was $263,400. The bureau said there were 213,000 new, single-family houses on the market at the end of May, a supply of 8.5 months.
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