New Home Sales Slide in June

Sales of new single-family houses fell in June to a seasonally adjusted annual rate of 482,000 according to the U.S. Census Bureau and Department of Housing and Urban Development. The June rate is 6.8 percent below the revised May rate of 517,000, but 18.1 percent above the year-ago rate of 408,000.

New home sales decreased in three of the four regions. Sales in the West and Midwest fell 17.0 and 11.1 percent respectively. Sales in the South fell 4.1 percent, while sales in the Northeast increased 28.0 percent on the month.

The median sales price of new homes sold in June was $281,800, up 0.5 percent from May. The average price was $328,700, down 2.1 percent on the month.

At the end of June, there was an estimated supply of 5.4 months at the current sales rate.

Read the Census release.