Business news

Following is a summary of the May new home sales report from the Commerce Department.

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May April March Feb. Jan. Dec.

2008 2008 2008 2008 2008 2007 =============================================================================== Total Sales 512,000 525,000 501,000 572,000 597,000 600,000 MOM% change -2.5% 4.8% -12.4% -4.2% -0.5% -4.6% 3 mo. average 512,667 532,667 556,667 589,667 608,667 650,667 Prev. est. n/a 526,000 509,000 572,000 597,000 600,000 Net Revision -9,000 ——————————————————————————- Northeast 35,000 38,000 26,000 39,000 55,000 56,000 Midwest 82,000 78,000 65,000 77,000 77,000 74,000 South 281,000 280,000 288,000 314,000 318,000 335,000 West 114,000 129,000 122,000 142,000 147,000 135,000 ——————————————————————————- Months' supply 10.9 10.7 11.4 9.7 9.8 9.8 ===============================================================================

May April March Feb. Jan. Dec.

2008 2008 2008 2008 2008 2007 =============================================================================== Homes for sale 453,000 461,000 471,000 477,000 484,000 494,000 ——————————————————————————- Median price $231,000 $243,500 $227,800 $245,300 $232,400 $227,700 YOY% change -5.7% 0.4% -13.3% -2.2% -8.6% -6.9% Mean price $311,300 $321,200 $286,800 $301,200 $284,600 $284,400 YOY% change 0.5% 3.0% -12.9% -6.3% -9.5% -5.8% =============================================================================== NOTE: All unit figures are expressed at annual rates, seasonally adjusted.

SOURCE: U.S. Commerce Department. http://www.census.gov/newhomesales

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