Posted July 27, 2016

June new home sales rise 3.5 percent month over month

Sales trend is 25 percent above June 2015 rate.

Sales of new single-family houses in June 2016 were at a seasonally adjusted annual rate of 592,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 3.5 percent (±23.9%)* above the revised May rate of 572,000 and is 25.4 percent (±27.9%)* above the June 2015 estimate of 472,000.

June's rate was higher than any month in the last eight years, hitting its best level since February 2008. 

The median sales price of new houses sold in June 2016 was $306,700; the average sales price was $358,200. The seasonally adjusted estimate of new houses for sale at the end of June was 244,000. This represents a supply of 4.9 months at the current sales rate.