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Pace of U.S. New-Home Sales Suggests Steady Housing Strength | Tony Seruga
Jul
26

Pace of U.S. New-Home Sales Suggests Steady Housing Strength

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The U.S. housing market is stabilizing near 10-year highs, according to government data Wednesday that showed sales of new homes were slightly less than forecast.

HIGHLIGHTS OF NEW HOME SALES (JUNE)

  • Single-family home sales increased 0.8% m/m to 610k annualized pace (est. 615k)
  • Median sales price fell 3.4% y/y to $310,800
  • Supply of homes crept up to 5.4 months from 5.3 months; 272,000 new houses were on market at end of June

Key Takeaways

Americans, taking advantage of low mortgage rates and confident in a strong job market that’s providing steady wage gains, are still on the hunt for new homes. Prices fell from a year earlier as more moderately priced homes sold in June…

Pace of U.S. New-Home Sales Suggests Steady Housing Strength

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