New Residential Sales Dip in June

Sales of new single family homes slide from May but rise slightly over June 2010.

Sales of new single-family houses in June 2011 were at a seasonally adjusted annual rate of 312,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 1.0 percent (±12.5%)* below the revised May rate of 315,000, but is 1.6 percent (±14.1%)* above the June 2010 estimate of 307,000.

The median sales price of new houses sold in June 2011 was $235,200; the average sales price was $269,000. The seasonally adjusted estimate of new houses for sale at the end of June was 164,000.

This represents a supply of 6.3 months at the current sales rate.