New home sales fall in June

New single-family home sales fell to a seasonally adjusted annual rate of 590,000 in June, according to the U.S. Census Bureau and the Department of Housing and Urban Development. The June level is 8.1% below the revised May rate of 642,000 and is 17.4% below the June 2021 estimate of 714,000.

The median sales price of new houses sold in June 2022 was $402,400. The average sales price was $456,800.

At the end of June, the seasonally adjusted estimated supply at the current sales rate was at 9.3 months.

Read the Census/HUD release.