Building on the momentum of the previous month’s increase, new home sales increased in June, according to the latest report from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.
Sales of new single-family homes in June increased to a seasonally adjusted annual rate of 610,000, the report showed. That is an increase of 0.8% from May’s 605,000 and up 9.1% from June 2016’s 559,000 sales.
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(Source: U.S. Census Bureau, HUD)
The median sales price of new homes sold decreased to $310,800 in June, down from $345,800 last month. The average sales price came in at $379,500 in June.
The seasonally adjusted estimate of new homes for sale at the end of June increased from last month’s 268,000 homes to 272,000 in June. This represents a supply of 5.4 months at the current sales rate, up from last month’s 5.3-month supply.