US New Residential Single-Family Home Sales Trend Higher in June

On Thursday, the US Census Bureau and Department of Housing and Urban Development jointly announced that new residential single-family home sales were at a seasonally adjusted annual rate (SAAR) of 627,000 in June, according to estimates. This is 0.6% above the revised May rate of 623,000 but 6.6% below the June 2024 estimate of 671,000.

The seasonally adjusted estimate of new houses for sale at the end of June was 511,000. This is 1.2% above the May estimate of 505,000 and 8.5% above the June 2024 estimate of 471,000. This represents a supply of 9.8 months at the current sales rate—1.0% above the May estimate of 9.7 months and 16.7% above the June 2024 estimate of 8.4 months.

The median sales price was $401,800, 4.9% below the May price of $422,700 and 2.9% below the June 2024 price of $414,000.

The average sales price was $501,000, 2.0% below the May price of $511,500 but 1.1% above the June 2024 price of $495,500.