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Tuesday, March 31, 2020
HomeNewsEconomyNew Home Sales Ease in June, Median Price Declines

New Home Sales Ease in June, Median Price Declines

A real estate sign advertising a new home for sale is pictured in Vienna, Virginia, outside of Washington, October 20, 2014. (Photo: Reuters)
A real estate sign advertising a new home for sale is pictured in Vienna, Virginia, outside of Washington, October 20, 2014. (Photo: Reuters)

A real estate sign advertising a new home for sale is pictured in Vienna, Virginia, outside of Washington, October 20, 2014. (Photo: Reuters)

Sales of new single-family houses in June 2018 were at a seasonally adjusted annual rate of 631,000, despite a decline in the median sales price.

The New residential construction report released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development (HUD) joins a list of weaker housing data for the month.

New home sales after June are 5.3% (±17.1%) below the revised May rate of 666,000, but still 2.4% (±24.0%) above the June 2017 estimate of 616,000.

Sales Price

The median sales price of new houses sold in June 2018 was $302,100, marking a 2.5% decline. The average sales price was $363,300.

For Sale Inventory and Months’ Supply

The seasonally-adjusted estimate of new houses for sale at the end of June was 301,000. This represents a supply of 5.7 months at the current sales rate.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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