Our June data dump is nearing its end with the U.S. Census Bureau dropping the latest new-home sales numbers this morning. And according to the report, much like it was for existing-home sales, June was a tougher month on the new home market.
According to the Bureau, sales of new single‐family houses in June 2023 were at a seasonally adjusted annual rate of 697,000. This is 2.5 percent below the revised May rate of 715,000, but is 23.8 percent above the June 2022 estimate of 563,000.
The median sales price of new houses sold in June 2023 was $415,400, while the average sales price was $494,700.
The seasonally‐adjusted estimate of new houses for sale at the end of June was 432,000. This represents a supply of 7.4 months at the current sales rate.