New single-family home sales slide in June

While housing starts and existing-home sales moved forward in June, it’s a different story for new home sales.

Sales of new single‐family houses in June 2021 were at a seasonally adjusted annual rate of 676,000, falling 6.6% from the revised May rate of 724,000, the U.S. Census Bureau and the Department of Housing and Urban Development reported this morning.  

The latest figure is also 19.4% below the June 2020 estimate of 839,000. 

The median sales price of new houses sold in June 2021 was $361,800, falling nearly 5% from a median price of $380,700 in May.

The average sales price for new single-family home sales in June was $428,700, decreasing 1.2% compared to an average price of $434,000 in May.

The seasonally‐adjusted estimate of new houses for sale at the end of June was 353,000, representing a supply of 6.3 months at the current sales rate. This is nearly a 15% climb from a supply of 5.5-month supply in May.

Here’s how new single-family home sales performed by region on a month-over-month basis:

• In the Northeast, sales dropped 27.9% in June.
• In the Midwest, sales increased 5.7%
• Sales in the South declined 7.8%.
• In the West, sales were down 7%.

The full Monthly New Residential Sales report for June 2021 is available here.