New home sales rise in June
Sales of new single‐family houses increased 7% in June to a seasonally adjusted annual rate of 646,000, according to estimates released today by the U.S. Census Bureau and the Department of Housing and Urban Development.
In addition to rising above the revised May rate of 604,000, the latest numbers are also 4.5% above the June 2018 estimate of 618,000.
The median sales price of new houses sold in June 2019 was $310,400, up 2.1% from a median sales price of $303,500 in the previous month. The average sales price was $368,600, sliding 0.7% from an average price of $371,200 in May.
The seasonally‐adjusted estimate of new houses for sale at the end of June was 338,000, representing a 6.3-month supply at the current sales rate.
By region, sales fell 4.2% in the Northeast and plummeted 26.3% in the Midwest. While sales in the South edged up just 0.3%, sales in the West jumped 50.4%.
This report arrives just a day after the National Association of Realtors reported that existing-home sales fell 1.7% in June.
In addition to rising above the revised May rate of 604,000, the latest numbers are also 4.5% above the June 2018 estimate of 618,000.
The median sales price of new houses sold in June 2019 was $310,400, up 2.1% from a median sales price of $303,500 in the previous month. The average sales price was $368,600, sliding 0.7% from an average price of $371,200 in May.
The seasonally‐adjusted estimate of new houses for sale at the end of June was 338,000, representing a 6.3-month supply at the current sales rate.
By region, sales fell 4.2% in the Northeast and plummeted 26.3% in the Midwest. While sales in the South edged up just 0.3%, sales in the West jumped 50.4%.
This report arrives just a day after the National Association of Realtors reported that existing-home sales fell 1.7% in June.