US New Home Sales Rise For 2nd Month

Sales of new single-family houses in the United States increased 0.8 percent to a seasonally adjusted annual rate of 610 thousand in June of 2017 from a downwardly revised 605 thousand in May. The figure came below market expectations of 615 thousand. Sales rose in the Midwest and the West but fell in the South and were flat in the Northeast.

Sales rose in the West (12.5 percent to 180 thousand) and the Midwest (10 percent to 66 thousand) but were steady in the Northeast (at 41 thousand) and fell in the South (-6.1 percent to 323 thousand). 

The median sales price of new houses sold was $310,800, below $321,600 a year earlier. The average sales price was $379,500, well above $364,300 in June of 2016.

The stock of new houses for sale went up to 272 thousand from 269 thousand in May. This represents a supply of 5.4 months at the current sales rate.

Year-on-year, new home sales jumped 9.1 percent.

Figures for May were revised down to 605 thousand from an initial estimate of 610 thousand. The April figure was also revised to 577 thousand from 593 thousand. 

US New Home Sales Rise For 2nd Month

US Census Bureau | Joana Taborda |
7/26/2017 2:14:04 PM