The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for May 2024: New Home Sales – Sales of new single‐family houses in May 2024 were at a seasonally adjusted annual rate of 619,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.  This is 11.3 percent (±15.5 percent)* below the revised April rate of 698,000 and is 16.5 percent (±16.2 percent) below the May 2023 estimate of 741,000. Sales Price – The median sales price of new houses sold in May 2024 was $417,400.  The average sales price was $520,000. For Sale Inventory and Months’ Supply – The seasonally‐adjusted estimate of new houses for sale at the end of May was 481,000.  This represents a supply of 9.3 months at the current sales rate.