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KBWY - New Single-Family Home Sales Bounce Higher In May
Invesco KBW Premium Yield Equity REIT ETF
Sales of new single-family homes rose in May, rising 10.7 percent to 696,000 at a seasonally-adjusted annual rate from a 629,000 pace in April.
The median sales price of a new single-family home was $449,000, down from $454,700 in May (not seasonally adjusted).
Total inventory of new single-family homes for sale rose 1.6 percent to 444,000 in May, putting the month's supply (inventory times 12 divided by the annual selling rate) at 7.7, down 7.2 percent from April but still 42.6 percent above the year-ago level.