HUD and Census Bureau Release New Residential Sales for June 2022

The U.S. Department of Housing and Urban Development (HUD) and the U.S. Census Bureau jointly announced the following new residential sales statistics for June 2022:

New Home Sales

Sales of new single‐family houses in June 2022 were at a seasonally adjusted annual rate of 590,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 8.1 percent (±15.0 percent)* below the revised May rate of 642,000 and is 17.4 percent (±11.6 percent) below the June 2022 estimate of $714,000.

Sales Price

The median sales price of new houses sold in June 2022 was $402,400. The average sales price was $456,800.

For Sale Inventory and Months’ Supply

The seasonally adjusted estimate of new houses for sale at the end of June was 457,000. This represents a supply of 9.3 months at the current sales rate.