Sales of new single-family houses in the United States jumped 7 percent from the previous month to a seasonally adjusted annual rate of 646 thousand in June 2019, following two straight months of decline and compared to market expectations of a 6 percent increase.
May's sales pace was revised down to 604 thousand units from the previously reported 626 thousand units.
About 62 percent of the houses sold last month were either under construction or yet to be built.
New home sales, which account for about 11 percent of housing market sales, were up in the South (0.3 percent to a 13-month high of 382 thousand) and West (50.4 percent, the biggest jump since August 2010, to 185 thousand); but dropped in the Midwest (-26.3 percent to 56 thousand, its lowest level since September 2015) and Northeast (-4.2 percent to an eight-month low of 23 thousand).
The median new house price was unchanged at USD 310,400 in June from a year ago. The average sales price fell 0.4 percent to USD 368,600.
The stock of new houses for sale increased 0.6 percent to 338 thousand. At June's sales pace it would take 6.3 months to clear the supply of houses on the market, down from 6.7 months in May.
Year-on-year, new home sales rose 4.5 percent.
7/24/2019 4:28:12 PM