New single family homes sales increased 7% in June to a seasonally adjusted annual rate of 646,000, according to a U.S. Census Bureau report.
The rate is 4.5% above the June 2018 estimate.
Sales were bolstered by increases in the West and South, which increased 19.4% and 9.5%, respectively. The Northeast and Midwest saw sales declines of 50.0% and 17.6%, respectively.
The median sales price of new houses sold in June was $310,400, with an average sales price of $368,600.
The Census Bureau estimated that the number of new homes for sale at the end of June was 338,000, which represents a supply of 6.3 months at the current sales rate.
The full report can be found here.
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