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.