MAY 1995 NEW HOUSING SALES AT ANNUAL RATE OF 722,000 Sales of new one-family houses in May 1995 were at a seasonally adjusted annual rate of 722,000, according to estimates reported today by the U.S. Commerce Department's Bureau of the Census. This is 20 (+/-12) percent above the revised April rate of 602,000 and 5 (+/-10) percent below the May 1994 rate of 689,000. The median sales price of new houses sold in May was $134,900; the mean sales price was $158,100. At the end of May, the seasonally adjusted estimate of new houses for sale was 345,000. This represents a supply of 5.6 months at the current sales rate. Through May of this year there were 281,000 houses sold compared with 307,000 sold for the same period last year. This is a decrease of 8 (+/-3) percent. Data for June 1995 will be released on August 2, 1995 at 10:00 A.M. EDT. EXPLANATORY NOTES These statistics are estimated from sample surveys. They are subject to sampling variability and errors of response and nonreporting. Estimated average relative standard errors of the data are shown in the tables. Whenever a statement such as "an increase of 3 (+/-4) percent" appears in the text, this indicates the range (from -1 percent to +7 percent) in which the actual percent change is likely to have occured. All ranges given for percent changes are 90-percent confidence intervals. If the range contains zero, it is unclear whether there was an increase or decrease; that is, the change is not statistically significant. For any comparison cited without a confidence interval, the change is statistically significant. The January issue of CURRENT CONSTRUCTION REPORTS (C25) includes explanations of confidence intervals and sampling variability. Changes in seasonally adjusted statistics often show irregular movement. It takes 4 months to establish a trend. On the average, preliminary monthly sales estimates are revised +/- 5 percent. Changes in sales price data reflect changes in the distribution of houses by region, size, etc., as well as changes in the prices of houses with identical characteristics. Questions regarding these data may be directed to Joseph A. Gilvary, Construction Starts Branch, telephone (301) 457-4666. Source: Construction Reports, Series C25, New One-Family Houses Sold. C25 Reports are available from the U.S. Government Printing Office. Annual subscription: $16.00. NEW ONE-FAMILY HOUSES SOLD: MAY 1995 United North- Mid- Period States east west South West Seasonally adjusted annual rate 1994 - May 689 61 121 314 194 June 632 56 119 268 189 July 630 51 110 280 190 August 672 75 115 276 205 September 691 90 110 299 192 October 707 64 134 305 204 November 642 61 130 274 177 December 627 50 121 299 157 1995 - January 643 65 116 286 176 February(r) 575 66 108 274 127 March(r) 611 56 122 265 167 April(r) 602 50 123 255 173 MAY(p) 722 59 123 334 207 AVG. RSE(%) 5 18 12 9 9 Not seasonally adjusted 1993 666 60 123 295 188 1994 670 61 123 295 191 AVG. RSE(%) 2 6 7 3 4 1994 First 5 months 307 23 58 136 90 1995 First 5 months 281 23 54 126 78 AVG. RSE(%) 2 7 6 4 3 1994 - May 65 6 12 29 18 1995 - February(r) 47 4 9 23 11 March(r) 60 5 13 27 16 April(r) 58 4 13 24 16 MAY(p) 69 6 12 31 20 AVG. RSE(%) 5 18 12 9 9 Number of houses in thousands. (p) Preliminary. (r) Revised. AVG. RSE(%): Annual - Avg. Relative Standard Error for the last two years. YTD - Avg. Relative Standard Error for the current period and the same period last year. Monthly - Avg. Relative Standard Error for the latest six month period(January-June or July-December). Source: Construction Reports, Series C25, New One-Family Houses Sold. C25 Reports are available from the U.S. Government Printing Office. Annual subscription: $16.00. Questions regarding these data may be directed to Joseph A. Gilvary, Construction Starts Branch, telephone (301) 457-4666. NEW ONE-FAMILY HOUSES FOR SALE AT END OF PERIOD AND MONTHS SUPPLY AT CURRENT SALES RATE: MAY 1995 Seasonally adjusted Not Seasonally adjusted Houses Months Houses for sale Months for supply supply Period sale (1) (1) United States United North- Mid- South West States east west 1993 (X) (X) 295 53 48 121 73 (X) 1994 (X) (X) 340 55 63 140 82 (X) AVG. RSE(%) (X) (X) 3 10 6 4 6 (X) 1994 - May 302 5.3 301 51 51 123 76 4.6 June 313 6.0 316 52 55 129 79 5.7 July 317 6.2 318 54 55 129 80 6.0 August 322 6.0 323 54 57 134 79 5.5 September 328 5.9 332 53 61 139 80 6.1 October 330 5.7 331 52 62 137 80 5.9 November 335 6.5 335 53 62 139 81 7.5 December 338 6.6 340 55 63 140 82 8.5 1995 - January 342 6.7 340 55 62 143 81 7.3 February(r) 347 7.2 341 54 62 143 82 7.2 March(r) 346 6.9 342 54 62 145 80 5.7 April(r) 346 6.9 342 56 60 147 79 5.9 MAY(p) 345 5.6 343 58 61 145 78 5.0 AVG. RSE(%) 3 6 3 12 6 5 6 6 Number of houses in thousands. (p) Preliminary. (r) Revised. (X) Not applicable. (1) Ratio of houses for sale to houses sold. Seasonally adjusted ratio derived from unadjusted ratio. AVG. RSE(%): Annual - Avg. Relative Standard Error for the last two years. Monthly - Avg. Relative Standard Error for the latest six month period(January-June or July-December). Source: Construction Reports, Series C25, New One-Family Houses Sold. C25 Reports are available from the U.S. Government Printing Office. Annual subscription: $16.00. Questions regarding these data may be directed to Joseph A. Gilvary, Construction Starts Branch, telephone (301) 457-4666. MEDIAN AND AVERAGE SALES PRICE: MAY 1995 Period Median Average 1993 126,500 147,700 1994 130,000 154,500 AVG. RSE(%) 2 2 1994 - May 129,900 151,800 1995 - February(r) 135,000 160,200 March(r) 130,000 153,400 April(r) 133,000 157,800 MAY(p) 134,900 158,100 AVG. RSE(%) 5 3 Dollars. Includes value of improved lot. (NA) Not available. (p) Preliminary. (r) Revised. AVG. RSE(%): Annual - Avg. Relative Standard Error for the last two years. Monthly - Avg. Relative Standard Error for the latest six month period(January-June or July-December). Source: Construction Reports, Series C25, New One-Family Houses Sold. C25 Reports are available from the U.S. Government Printing Office. Annual subscription: $16.00. Questions regarding these data may be directed to Joseph A. Gilvary, Construction Starts Branch, telephone (301) 457-4666.