Sales of new US single-family homes slumped to a 14-month low in June and sales in the prior month were weaker than initially estimated.
- New home sales declined by 6.6% to a seasonally adjusted annual rate of 676,000 units last month, the lowest level since April 2020.
- May’s sales level was revised lower to 724,000 units from the initially reported 769,000 units. New home sales are obtained from a sample of houses selected from build permits and tend to be volatile on a monthly basis.
- Last month’s decline in new home sales was concentrated in the highly populated South, the Northeast, and West. Sales increased in the Midwest. The median new house price increased by 6.1% from 2020 to $361,800 in June.
Sales were mainly concentrated between $200,000 to $749,000 price ranges. Sales below $200,000, the sought-after housing market segment, accounted for only 2% of the last month’s transactions.
EUR USD up +0.38%.
Source: U.S. Department of Commerce.