Sales of new single-family houses reached a rate of 497,000 in June, according to the U.S. Department of Commerce. This is 8.3 percent above May's rate and 38.1 percent above June 2012.
The median sales price of new houses sold in June was $249,700, and the average price was $295,000. The estimate of new houses for sale at the end of June was 161,000, representing a 3.9-month supply at the current sales rate.
"New-home buyers are returning to the market in larger numbers as firming prices, shrinking inventories of homes for sale and improving local economies convince them that now is the time to make their move," said Rick Judson, chairman of the National Association of Home Builders (NAHB). "Meanwhile, the very low supply of new homes on the market is indicative of the difficulty that builders are having in keeping up with demand due to availability issues with regard to materials, credit, labor and lots for development."
