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US sales of new single-family houses
in June 2010 were at a seasonally adjusted annual rate of 330,000, according to
estimates released jointly today by the US Census Bureau and the Department of
Housing and Urban Development. Although June sales rose, they were the second-lowest
since 1963.
The rise in June was 23.6% above the
revised May rate of 267,000, but is 16.7% 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.
While the sales level was the second-lowest on record since 1963, the unexpectedly strong increase offered hopes of
recovery. May sales had plunged 36.7% to a
record 267,000, revised down from an originally reported 32.7% tumble to
300,000. The slide followed the ending of a buyer tax credit on April
30th, causing sales to soar in the spring.
Today's
data showed inventories of new homes fell, dropping
by 1.4% in June to an estimated 210,000 homes for
sale, from 213,000 at the end of May. The months'
supply at the current sales rate dropped to 7.6 from
9.6 in May.
Regionally, new-home sales increased 20.5% in the
Midwest, 33.1% in the South and 46.4% in the
Northeast. Sales fell 6.6% in the West.
