June's New Home Sales See More of the Same

Sales have hovered in the lower 300,000 range since the expiration of the homebuyer tax credit in April 2010.

June new home sales report from the Census Bureau showed more of the bouncing along the bottom that we've seen throughout the housing sector. The June pace of new single family home sales was 312,000, compared to a revised 315,000 for May. The inventory of new homes for sale continued its steady decline to 164,000, the lowest level on record (beginning in 1963).

- Courtesy of NAHB