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Saturday, August 17, 2019
HomeNewsEconomyNew Home Sales Rise 7% to 646K in June

New Home Sales Rise 7% to 646K in June

An exchange showing one hand giving cash to the another for new house and keys, a vector illustration for new home sales. (Photo: AdobeStock)

New Residential Sales 4.5% Higher Year-Over-Year

An exchange showing one hand giving cash to the another for new house and keys, a vector illustration for new home sales. (Photo: AdobeStock)
An exchange showing one hand giving cash to the another for new house and keys, a vector illustration for new home sales. (Photo: AdobeStock)

New home sales came in at a seasonally adjusted annual rate of 646,000 in June, a gain of 7.0% (±15.2%). The U.S. Census Bureau and Department of Housing and Urban Development report on new residential sales was more moderate the forecast, but 4.5% (±21.8%) above the June 2018 estimate of 618,000.


PriorRevisedConsensus ForecastForecast RangeResult
New Home Sales (SA)626 K604 K660 K635 K to 676 K646 K

“Today’s report on new home sales, where June sales increased to 646,000 from 604,000 in May, is really a ‘bounce-back report’ after the 7.8% decline from April,” Tim Anderson, analyst at TJM Investments, said.

The rate for May was revised downward to 604,000.

The median sales price of new houses sold in June 2019 was $310,400. The average sales price was $368,600. The seasonally‐adjusted estimate of new houses for sale at the end of June was 338,000.

That’s a supply of 6.3 months at the current sales rate.

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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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