New single-family home sales fell 6.6 percent in June to a 676,000 seasonally adjusted rate. According to data recently released by the U.S. Department of Housing and Urban Development and the Census Bureau, the June number follows downward trends shown in May while also showing the lowest rate since April 2020.

 

Despite the fall in the number of new homes sold, according to NAHB, new home sales are still up 13.5 percent on a year-to-date basis. Meanwhile, inventory remains low at a 6.3-month supply and is 46.5 percent higher than June 2020.

"The June data came in lower than expected, and we anticipate an upward revision next month," said NAHB Chief Economist Robert Dietz. "Nonetheless, sales have trended lower as construction costs have increased and builders have sought to manage material delays and cost challenges in the construction pipeline, in addition to dealing with shortages of lots and labor in many housing markets."

https://nahbnow.com/2021/07/new-home-sales-fall-in-june-as-supply-chain-challenges-remain/