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Single-family home sales rise in May

Sales of new single-family houses in May were at a seasonally adjusted annual rate of 546,000, according to estimates released jointly June 23 by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 2.2 percent above the revised April rate of 534,000 and is 19.5 percent above the May 2014 estimate of 457,000.

The median sales price of new houses sold in May was $282,800; the average sales price was $337,000.

The seasonally adjusted estimate of new houses for sale at the end of May was 206,000. This represents a supply of 4.5 months at the current sales rate.

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