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Monthly Drop In New Home Sales07-28-15 | News

Monthly Drop In New Home Sales

Sales of new single-family homes were 18.1 percent higher in June, compared to the same month in 2014. But the number of transactions dropped slightly on a month-to-month basis.

Sales of new single-family homes dropped in June, compared to May, but the year-to-year numbers remain in the positive double-digits.

Home sales totaled 482,000 in June, 6.8 percent lower than the month before. But transactions are up 18.1 percent, compared to June 2014, the U.S. Census Bureau and the Department of Housing and Urban Development said. Year-to-year sales were 19.5 percent higher in May.

The median sales price of new houses sold in June was $281,800, while the average sales price was $328,700. The estimate of new houses available for sale at the end of June was 215,000. This represents a supply of 5.4 months at the current sales rate.