26 June 2001, 18:11  U.S. May new home sales up 0.8 pct to 928,000 units from April

WASHINGTON (AFX) - Sales of new homes rose 0.8 pct in May from the previous month to 928,000 units, the Commerce Department said. The rise was in line with expectations. In April, sales fell a revised 4.5 pct to 921,000 units, narrower than the initial estimate of a 9.5 pct fall to 894,000. Year on year, home sales in May were up 8.8 pct. Sales rose in the Midwest, South, and West, and fell in the Northeast.
Midwest sales rose 5.7 pct to 186,000 after falling 8.3 pct in April. In the South, the nation's largest region, sales rose 0.2 pct to 424,000 units after falling 7.2 pct the month before. Sales in the West rose 4.0 pct to 261,000 following a 5.0 pct rise the previous month.
In the Northeast, sales fell 19.7 pct to 57,000 following a 7.8 pct fall. The median sales price of a new home fell 0.5 pct to 170,200 usd. The average sales price rose 5.1 pct to 211,800 usd. At the May sales pace, the nation's inventory of 289,000 unsold new homes would last 3.8 months, unchanged from April. Actual sales in May -- without annualization or seasonal adjustment -- were 84,000 units, down 2.3 pct from April.

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