WASHINGTON -- Sales of new single-family houses in June 2015 were at a seasonally adjusted annual rate of 482,000, according to estimates released recently by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 6.8 percent below the revised May rate of 517,000, but is 18.1 percent above the June 2014 estimate of 408,000.
The median sales price of new houses sold in June 2015 was $281,800; the average sales price was $328,700. The seasonally adjusted estimate of new houses for sale at the end of June was 215,000. This represents a supply of 5.4 months at the current sales rate.
"Despite this month's drop, we continue to hear from our builders that there is solid traffic in sales offices and a lot of consumer interest in new homes, which should bode well for sales moving forward," said Tom Woods, chairman of the National Association of Home Builders (NAHB) and a home builder from Blue Springs, Mo.
"We knew that there would be ups and downs on the road back to a normal housing market," said NAHB Senior Economist Robert Denk. "As the economy and job growth strengthens, we expect to see gradual, continued momentum in the coming months."
Regionally, home sales rose by 28.0 percent in the Northeast. The Midwest, South and West posted respective declines of 11.1 percent, 4.1 percent, and 17.0 percent.
The inventory of new homes for sale was 215,000 units in June. This is a 5.4-month supply at the current sales pace.