June Data Shows that New Home Sales Boomed in the West

The US Census Bureau and US Department of Housing and Urban Development’s New Residential Sales in June 2016 press release showed an increase in new single-family home sales on a national level. Compared to May, new home sales grew by 3.5% and were 25.4% greater than in June 2015. The average sales price for new single-family homes was $358,200 and the median sales price was $306,700. Inventory was estimated at 4.9-month supply at the current sales pace.

In the West, new home sales made double-digit gains in June. On a month-over-month basis, new home sales grew by 10.9%, which was the highest out of all of the regions tracked by the Bureau. On a year-over-year basis, sales were 24.6% higher. To read the full press release, visit http://1.usa.gov/10tP2Rv.

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