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New-Home Sales Drop 2.5% in June but are Nearly 24% Above Last June

New-Home Sales Drop 2.5% in June but are Nearly 24% Above Last June

July 26, 2023, from Floor Focus FloorDaily News

Washington, D.C., July 26, 2023 – Sales of new single‐family houses in June 2023 were at a seasonally adjusted annual rate of 697,000, according to the most recent estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development.

This is 2.5% below the revised May rate of 715,000 but 23.8% above the June 2022 estimate of 563,000.

The median sales price of new houses sold in June 2023 was $415,400. The average sales price was $494,700.

The seasonally adjusted estimate of new houses for sale at the end of June was 432,000. This represents a supply of 7.4 months at the current sales rate.

Donato Pompo

Donato Pompo, CTC CMR CSI CDT MBA, is the leading tile and stone forensic expert and consultant in North America, and he is a National Tile Contractors Association Recognized Consultant. Donato is the founder of CTaSC.