Wednesday, July 24, 2013

U.S. Home Sales Highest In 5 Years

Sales of new single-family houses rose 8.3% from May to June 2013, the U.S. Commerce Department reported today.  June sales were at a seasonally adjusted annual rate of 497,000 - 38.1% above the June 2012 rate - marking the highest level since 2008. 

The median sales price of new houses sold in June 2013 was $249,700; the average sales price was $295,000. 

The seasonally adjusted estimate of new houses for sale at the end of June was 161,000.  This represents a supply of 3.9 months at the current sales rate.