Special offer

New Home Sales Jump!

Mortgage and Lending with Guaranteed Rate, Inc NMLS ID:108672 More Info.

Following a record low in May, new home sales surged 23.6 percent in June, according to estimates from the U.S. Census Bureau and the Department of Housing and Urban Development. The better than expected recovery is misleading, however. Year-over-year numbers were down 16.7 percent and the sales pace was the second slowest since the Commerce Department began tracking the data in 1963. The median sales price of new houses sold in June was $213,400; the average sales price was $242,900. Also, the estimate of new houses on the market at the end of June was 210,000, a 7.6 month supply at the current sales rate. That was down from 9.6 months in May. More here, here, and here.

Posted by

Michael Pond

Branch Manager/Loan Officer, NMLS 108672

Envoy Mortgage, NMLS 6666

704-517-2250 cell