New Residential Home Sales - June 2011

In June, New Residential Single Family Home Sales decreased -1.0% from May's -0.6% decrease. June's annual sale rate was 312,000 new homes and May was 315,000. This is a +1.6% increase from a year ago. In June 2010, new home sales were 307,000.


New Home Sales


These numbers are seasonally adjusted, but also with large error margins, and weather can influence sales. For example, the error window for the monthly percentage change is ±12.5%.

The supply of new homes is now at 6.3 months of inventory, or 164,000, a -23.2% decrease from June 2010.


new home inventory


Prices increased, with the June median price being $235,200 and the average price was $269,000. May's median price was $222,400 and the average price was $264,300.


nave new home price


The median time new homes were for sale was 9.9 months; March was 9.2 months.

Calculated Risk gives more analysis and graphs while MarketWatch noted the NorthEast region is at all time lows:

Sales of new single-family homes fell 1.0% in June as purchases in the Northeast dropped to the lowest level since the government began tracking the data in 1973.

If one looks at median and average sales prices, they are still way out of alignment with wages and salaries, which are flat for over a decade.

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Here's who the Federal

Here's who the Federal Reserve is blaming for the current housing crisis:

Hint - it's not the bank's aggressive lending practices.