New-home sales improved in June, with sales of new, single-family homes eking up 0.8 percent to 610,000, according to the U.S. Census Bureau and the Department of Housing and Urban Development (HUD). The average new-home sales price was $379,500, while the median was $310,800. New-home listing inventory was 272,000—5.4 months supply.
“Although we saw modest gains this month, new-home sales have risen nearly 11 percent since the start of 2017,” said Granger MacDonald, chairman of the National Association of Home Builders (NAHB), in an NAHB Now update. “Our members remain optimistic as the single-family housing market continues to recover.”