US New Home Sales Up to 8-1/2-Years High

Sales of new single-family houses in the United States jumped 3.5 percent to a seasonally adjusted annual rate of 592,000 in June of 2016. It is the highest figure since February of 2008 and better than market expectations of 560,000 boosted by sales in the West and the Midwest.
US Census Bureau | Joana Taborda | joana.taborda@tradingeconomics.com 7/26/2016 3:26:46 PM
Sales in the West grew 10.9 percent to 152 thousand and those in the Midwest increased 10.4 percent to 85 thousand. In contrast, sales in the South edged down 0.3 percent to 321 thousand and those in the Northeast shrank 5.6 percent to 34 thousand. 

The median sales price of new houses sold in June increased to $306,700 from $288,800 in the previous month and 289,200 a year earlier. The average sales price also went up to $358,200 from a downwardly revised $351,400 in the previous month and $329,300 a year earlier. 

The stock of new houses for sale increased 1.2 percent to 244,000, the highest in three months. This represents a supply of 4.9 months at the current sales rate.

Year-on-year, new home sales jumped 25.4 percent. 

US New Home Sales Up to 8-1/2-Years High