New-home sales down slightly in June

Sales of new single-family houses in June 2011 slipped 1.0% compared with the previous month, according to an estimate released today by the U.S. Census Bureau and the Department of Housing and Urban Development. 

New residential sales in June 2011 were at a seasonally adjusted annual rate of 312,000, down from the revised May rate of 315,000. Compared with June 2010, housing sales were up 1.6%.

The median sales price of new houses sold in June 2011 was $235,200; the average sales price was $269,000. 

The estimated number of new houses for sale at the end of June was 164,000. This represents a supply of 6.3 months at the current sales rate.