US New Home Sales Experience Modest Growth in June

According to the latest joint report from the Census Bureau and the Department of Housing and Urban Development, sales of new single-family houses in the United States reached a seasonally adjusted annual rate of 627,000 in June.

Monthly Increase Amidst Annual Decline

The figures reveal a 0.6% increase from the previous month, showcasing a slight recovery in the housing market. However, when compared to the same period last year, there's a notable 6.6% decline, indicating ongoing challenges in the sector.

Pricing and Inventory Insights

The median sales price of new houses sold was reported at $401,800, with the average sales price slightly higher at $501,000. The seasonally-adjusted estimate of new houses available for sale was 505,000, which translates to a 9.8-month supply at the current sales rate.