New Home Sales Fell 5.3 percent in June

New single-family home sales increased to a seasonally adjusted annual rate of 631,000 in June, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The June level was 5.3 percent below the revised May rate of 666,000 but 2.4 percent above the June 2017 estimate.

Sales increased 36.8 percent in the Northeast, while the Midwest, South, and West posed declines, falling 13.4, 7.7, and 5.2 percent, respectively.

The median price of a new home was $302,100, down 3.5 percent from May. The average price was $363,300.

At the end of June, the seasonally adjusted estimated supply at the current sales rate increased from 5.2 months to 5.7.

Read the Census/HUD release.