The rate of new single-family homes sold in June increased a seasonally adjusted 11% from May 2009 while median prices slipped 6.9%.
According to estimates released by the US Census Bureau
and the Department of Housing and Urban Development
, new homes sold at a seasonally adjusted annual rate of 384,000 units. June's rate is 11% above May’s estimated rate of 346,000 units and is up 21.3% from the June 2008 estimate of 488,000.
The median price for homes sold in June was $206,200, down from $221,600 in May and from $230,900 in the year-ago month. At the same time, June's average sales price was $276,900, up slightly from $274,300 in May but well below the year-ago average of $298,600.
Nearly 28% of new homes sold in June were under construction at the time of sale, while construction had yet to begin on an additional 28%. The remaining homes sold in the month were already complete.
There were an estimated 281,000 new homes for sale at the end of June, an 8.8-month supply at the current rate.
Write to Austin Kilgore