US New Home Sales Fall Sharply in June

Sales of new single-family houses in June 2014 were at a seasonally adjusted annual rate of 406,000, down 8.1 percent from the previous month, the largest decline in a year. May's sales were revised downwards to 442,000 units from an initially reported 504,000 units.

The median sales price of new houses sold in June 2014 was $273,500; the average sales price was $331,400. The seasonally adjusted estimate of new houses for sale at the end of June was 197,000. This represents a supply of 5.8 months at the current sales rate.

Sales in the Northeast dropped 20 percent from May and those in the South fell 9.5 percent. Sales in the Midwest contracted 8.2 percent and those in the West declined 1.9 percent. 

Year-on-year, new home sales fell 11.5 percent in June.

US New Home Sales Fall Sharply in June

U.S. Census Bureau | Joana Taborda |
7/24/2014 3:21:40 PM