The U.S. Census Bureau and the U.S. Department of Housing and Urban Development jointly announced the following new residential sales statistics for June 2018:

NEW RESIDENTIAL SALES, JUNE 2018

New Home Sales

Sales of new single-family houses in June 2018 were at a seasonally adjusted annual rate of $631,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 5.3 percent (±17.1 percent)* below the revised May rate of 666,000, but is 2.4 percent (±24.0 percent)* above the June 2017 estimate of $616,000.

Sales Price

The median sales price of new houses sold in June 2018 was $302,100. The average sales price was $363,300.

For Sale Inventory and Months’ Supply

The seasonally-adjusted estimate of new houses for sale at the end of June was $301,000. This represents a supply of 5.7 months at the current sales rate.

The July report is scheduled for release on August 23, 2018.

For the full article, please visit: https://www.census.gov/construction/nrs/pdf/newressales.pdf

For more information regarding real estate investing, visit the AZREIA (Arizona Real Estate Investors Association) website @ http://www.azreia.org