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.
