WASHINGTON—Sales of new single-family homes in June rose slightly to a seasonally adjusted annual rate of 627,000, up 0.6% from May, according to data released by the U.S. Census Bureau and the Department of Housing and Urban Development.
Despite the modest monthly gain, sales were down 6.6% compared to June 2024.
The median sales price dropped to $401,800—down 4.9% from May and 2.9% below the year-ago figure. The average price fell to $501,000, a 2% monthly decline.
Inventory climbed to 511,000 new homes for sale, representing a 9.8-month supply at the current sales pace—up from 8.4 months a year ago.