Thursday, July 29, 2010

New Home Sales Rate for June up 23% over May

According to data from according to the U.S. Census Bureau and the Department of Housing and Urban Development, sales of new single-family houses in June 2010 were at a seasonally adjusted annual rate of 330,000.

This is 23.6% (±15.3%) above the revised May rate of 267,000, but is 16.7% (±10.9%) below the June 2009 estimate of 396,000.

The median sales price of new houses sold in June 2010 was $213,400; the average sales price was $242,900. The seasonally adjusted estimate of new houses for sale at the end of June was 210,000. This represents a supply of 7.6 months at the current sales rate.

Both new construction and existing home sales across the U.S. have slowed considerably since the ending of the home buyer tax credit program on April 30, 2010.

Sales rose the most in the Northeast, where they surged 46.4%; the South saw sales climb by 33.1%, while sales in the Midwest increased 20.5%.  Sales in the West, the only region to suffer a decline during the month, edged down almost 6.6%.

Joe Giancarli, Sales Associate
Real Estate Advistor
New Home Construction Specialist

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