New home sales in May rose 12.2% from April, which marks the third consecutive month of growth.

Sales of new single‐family houses came in at a seasonally adjusted annual rate of 763,000, according to estimates released jointly Tuesday by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 20% above the May 2022 estimate of 636,000.

Homebuilder confidence has been rising over the past few months, and housing starts rose 21.7% from April. Strong new home sales have gotten the new construction industry back on track to deliver details ⇒

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