ISTANBUL

New home sales in the US plummeted 11.3% in May from the previous month, according to a report Wednesday by the Census Bureau and the Department of Housing and Urban Development.

Sales of new single‐family homes were at a seasonally adjusted annual rate of 619,000 – the lowest level since last November.

New home sales, which show the number of new single-family homes sold, last month were estimated to come in at 636,000.

The figure for April was revised up to 698,000 from 634,000 for a monthly gain of 2%.

Annually, new home sales in May were 16.5% below the same month in 2023, when the figure stood at 741,000.

The median sale price of new homes sold was $417,400 in May and the average sales price was $520.000.