New Residential Sales Figures for June Present Mixed Bag

New home sales slide 8.4 percent from May but track 15.1 percent over June 2011.

Sales of new single-family houses in June 2012 were at a seasonally adjusted annual rate of 350,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 8.4 percent (±12.4%)* below the revised May rate of 382,000, but is 15.1 percent (±16.7%)* above the June 2011 estimate of 304,000.

The median sales price of new houses sold in June 2012 was $232,600; the average sales price was $273,900.

The seasonally adjusted estimate of new houses for sale at the end of June was 144,000. This represents a supply of 4.9 months at the current sales rate.