New Home Sales Climb Higher in June

The U.S. Census Bureau is reporting that sales of new single-family houses in June 2020 were at a seasonally adjusted annual rate of 776,000. This is 13.8% above the revised May rate of 682,000 and is 6.9% above the June 2019 estimate of 726,000. The median sales price of new houses sold in June 2020 was $329,200. The average sales price was $384,700. The seasonally-adjusted estimate of new houses for sale at the end of June was 307,000. This represents a supply of 4.7 months at the current sales rate.