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June New Home Sales: Scaling Back

The sharp monthly decline in new home sales in June was the latest indication that supply-side constraints are limiting new home construction.

New home sales fell 6.6% in June from May, to 676,000 (SAAR), according to the U.S. Census Bureau.
The median sales price of new houses sold in June 2021 was $361,800, up 6.1% year-over-year.
There were 358,000 new houses for sale at the end of June. This represents a supply of 5.9 months at the current sales rate.