New Home Sales Tumble for Third Month in a Row in June 2021

The U.S. Census Bureau reported that new residential single-family home sales for June 2021 were at a SAAR of 676,000, according to estimates. This is -6.6% below the revised May rate of 724,000 and is -19.4% below the June 2020 estimate of 839,000. The seasonally adjusted estimates of new houses for sales at the end of June was 353,000. This represents a 6.3 months’ supply based on the current rate of sales. The median sales price of new houses sold in June 2021 was $361,800. The average sales price was $428,700.