U.S. home sales decrease in June

By: Lee Fehrenbacher//July 25, 2012//

U.S. home sales decrease in June

Lee Fehrenbacher//July 25, 2012//

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The number of new home sales in the United States ended a three-month streak of increasing activity in June.

According to the U.S. Department of Housing and Urban Development, sales of new single-family houses in June decreased 8.4 percent from May to a seasonally adjusted annual rate of 350,000 homes. Before the drop, new home sales had continued to increase from a point of 313,000 homes in January.

Year-over-year rates have continued to increase since the beginning of the year, however, and June’s numbers were 15.1 percent above that of June 2011.

New home prices also dropped from May. The median sales price of a new home sold in June fell 0.8 percent to $232,600, while the average sales price stayed the same at $273,900.

In June, there was a 4.9-month supply of new homes for sale across the nation 鈥� a 0.2 percent increase from May.

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