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MAY 1997 NEW HOUSING SALES
AT ANNUAL RATE OF 825,000
Sales of new one-family houses in May 1997 were at a seasonally adjusted annual rate of 825,000, according to estimates released today by the U.S. Commerce Department's Bureau of the Census and the U.S. Department of Housing and Urban Development. This is 7 (+/—9) percent above the revised April rate of 770,000, and 13 (+/—10) percent above the May 1996 rate of 732,000.
The median sales price of new houses sold in May was $139,900; the mean sales price was $166,900. At the end of May the seasonally adjusted estimate of new houses for sale was 280,000. This represents a supply of 4.1 months at the current sales rate.
Through May 1997 there were 361,000 houses sold compared with 330,000 houses sold during the same period last year. This is an increase of 9 (+/—4) percent.
New One-Family Houses Sold
(Number Of Houses In Thousands)
Avg Rise (%) Category May 97-P Apr 97-R May 96 1st 5 mos.- X United States, (SAAR) 825 770 732 361 Northeast (SAAR) 107 93 57 41 Midwest (SAAR) 166 134 138 63 South (SAAR) 357 339 341 163 West (SAAR) 195 204 196 94
P–Preliminary
R–Revised
X–Not seasonallly adjusted.
June 30, 1997 U.S. Department of Commerce
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