New Home Sales Slide 8.1 Percent in June
Average sales price dips to $456,800 from $511,400 in May.
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for June 2022:
New Home Sales
Sales of new single‐family houses in June 2022 were at a seasonally adjusted annual rate of 590,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8.1 percent (±15.0 percent)* below the revised May rate of 642,000 and is 17.4 percent (±11.6 percent) below the June 2021 estimate of 714,000.
Sales Price
The median sales price of new houses sold in June 2022 was $402,400. The average sales price was $456,800.
For Sale Inventory and Months’ Supply
The seasonally‐adjusted estimate of new houses for sale at the end of June was 457,000. This represents a supply of 9.3 months at the current sales rate.
CONTRACTOR SUPPLY MAGAZINE
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