New Home Sales Decline Month-Over-Month and Year-Over-Year in June 2022

On Tuesday (7-26-22), the US Census Bureau and the Department of Housing and Urban Development jointly announced that new residential single-family home sales for June were at a SAAR of 590,000, according to estimates. This is 8.1% below the revised May rate of 642,000 and is 17.4.0% below the June 2021 estimate of 714,000.

The median sales price of new houses sold in June was $402,400. The average sales price was $456,800.

The seasonally adjusted estimates of new houses for sales at the end of June was 457,000. This represents a 9.3-month supply based on the current rate of sales.

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