REIT - New Home Sales Unexpectedly Fall To 7-Month Low

2024-07-25 02:00:00 ET

Summary

• The June release for new home sales from the Census Bureau came in at a seasonally adjusted annual rate of 617,000 units, the lowest level in seven months.
• New single-family home sales are 4.4% above the 1963 start of this data series.
• The median home price is now at $417,300, which represents a 2.5% increase from the previous month and a 0.1% decrease from June 2023.

The June release for new home sales from the Census Bureau came in at a seasonally adjusted annual rate of 617,000 units, the lowest level in seven months. The latest reading came in lower than the 639,000 forecast. New home sales are down 0.6% month-over-month from a revised rate of 621,000 in May and are down 7.4% from one year ago....

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