PlayStation and Xbox console sales have hit record lows in the United States for the month of May, as price hikes over the past year continue to dampen consumer demand. According to the latest report from research firm Circana, hardware spending for PlayStation 5 dropped by 43% in May 2026 compared to a year ago, with unit sales falling by 58% following a price increase that took effect in early April.
On the Xbox side, hardware spending grew by 7% year-on-year, but unit sales fell by 12%. Circana’s Mat Piscatella noted on Bluesky that the drop in sales for both consoles marked a new low for the month of May. PlayStation hardware sales fell to their lowest May total since 2000, while Xbox console sales were the lowest ever recorded for a May month.
Price increases driving declines
The average price paid for a video game console reached $502 (£380) in May, up 14% compared to a year ago, according to Piscatella. The PlayStation 5 average price increased by 33% to $672 (£508), while the Xbox Series X/S average price rose by 22% to $524 (£396). While console sales typically decline over the lifetime of a format, the fact that these sales represent a new historical low for May—and for Xbox, over the entire company’s lifespan—raises concerns about the future of the console business.
Nintendo Switch 2 shines
Despite the declines for PlayStation and Xbox, overall hardware spending in May grew 38% to $249 million (£188 million) compared to a year ago, driven by the Nintendo Switch 2 and the price increases. The Switch 2 was the best-selling console in May in terms of both units and dollar sales, and is the highest-selling console of 2026 to date. Since its launch in June 2025, the Switch 2 has sold 5.9 million units in the US, making it the second fastest-selling console in US history (since Circana’s tracking began in 1995), behind only the Game Boy Advance, which sold 6.5 million units in its first year.
However, a worldwide price hike for the Switch 2 is scheduled for September 2026, and its continued success remains to be seen. The UK price for the console has not yet been announced.
Software sales and outlook
On the software side, 007 First Light topped the best-sellers list for May, followed by Forza Horizon 6, Lego Batman: Legacy Of The Dark Knight, and Subnautica 2. Another new entry in the top 10 was Yoshi And The Mysterious Book at number eight. 007 First Light also debuted at number four on the top 10 best-selling games of the year so far, behind Resident Evil Requiem, Crimson Desert, and MLB: The Show 26. Forza Horizon 6 was at number five, while Lego Batman debuted at number seven.
Overall, May was a strong month for new game releases. However, for PlayStation 5 and Xbox Series X/S, the downward trend is unlikely to reverse until the launch of Grand Theft Auto 6 in November 2026.
