- Sales of new single-family houses in June plunged by 6.6% from May, and by 32% from the peak in January, to a seasonally adjusted annual rate of 676,000 houses, the lowest June since 2018.
- Supply jumped to 6.3 months at the current rate of sales, as unsold speculative inventory for sale jumped to 353,000 houses (seasonally adjusted), the most since December 2008.
- The median price of new single-family houses sold fell by 5.0% in June from May, to $361,000, the lowest since March, having thus unwound part of the majestic spike that occurred starting in the summer last year.
For further details see:
Buyers' Strike: New Home Sales Plunge 32% In 5 Months, Unsold Inventory Highest Since 2008