New Home Sales Increased in June

New single-family home sales rose to a seasonally adjusted annual rate of 610,000 in June, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The June level was 0.8% above the revised May rate of 605,000 and 9.1% above the June 2016 estimate.

Sales grew in two regions, 10.0% in the Midwest and 12.5% in the West. The South posted a loss of 6.1%, while the Northeast’s sales remained unchanged.

The median price of a new home was $310,800, down 4.2% from May. The average price was $379,500.

At the end of June, the estimated supply at the current sales rate remained unchanged at 5.4 months.

Read the Census/HUD release.