Tuesday, July 26, 2016

New Home Sales Rose in June

New single-family home sales rose to a seasonally adjusted annual rate of 592,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The June rate is 3.5% below the revised May rate of 572,000 but 25.4% above the June 2015 estimate.

Sales were mixed across regions, rising 10.4% in the Midwest and 10.9% in the West, but falling 5.6% in the Northeast and 0.3% in the South.

The median price of a new home was $306,700, up 6.2% from May. The average price was $358,200, up 1.9% from the previous month.

At the end of June, there was an estimated supply of 4.9 months at the current sales rate, down from a 5.9 month supply in May.

Read the Census/HUD release.
Visit Banks and the Economy.

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