By the Numbers

Surprise surge in new-home sales in May as median price falls 

New-home inventory rose to 444,000 homes in May from 437,000 homes in April, the U.S. Census Bureau and the U.S. Department of Housing and Urban Development reported.  

Median existing-home price tops $400,000 for first time in May 

Meanwhile, existing-home sales slid 3.4% from April to a seasonally adjusted annual rate of 5.41 million, according to the National Association of REALTORS®. 

Denver home sales rise 3.3% year over year in May

Nationwide, sales fell 8.5% annually and rose 5.8% monthly, as rising interest rates and home prices weighed on homebuyers’ purchasing power, RE/MAX said.

Housing starts plunge in May amid uncertain economic conditions 

New-home completions rose during the month, however, with the increased inventory representing a rare bright spot in an otherwise gloomy government report. 

Denver home prices show no signs of slowing in March S&P CoreLogic Case-Shiller Index 

Nationally, the index posted its highest annual increase ever.

Pending-home sales fall to 10-year low 

Nevertheless, home prices are expected to continue rising through the end of the year, according to the National Association of REALTORS®. 

New residential sales fall in April as home prices, mortgage rates continue to climb 

The rate of new single-family home sales fell 16.6% from March’s revised number, while the median sales price jumped to $450,600 from March’s revised median house price of $435,000. 

“Unusual” market in April as home sales slow, but listed homes still sell quickly and at high prices

The inventory of unsold homes increased in April, while the median existing-home sales price rose, according to the National Association of REALTORS®.

Single-family home construction slows for second month in a row as apartment starts jump 

“Builders are responding to higher mortgage rates and are chasing rising rents, with fewer homebuyers and more renters being forced to renew their leases.” — NAR Chief Economist Lawrence Yun 

NAHB: Builder confidence plunges in May on affordability concerns 

The release of the monthly survey from the National Association of Home Builders comes as the Biden Administration unveiled a housing-supply action plan that aims to boost the supply of affordable apartments and new homes. 

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