The U.S. Census Bureau and the U.S. Department of Housing and Urban Development have released new residential sales statistics for June 2024.
Sales of new single-family houses in June 2024 were at a seasonally adjusted annual rate of 617,000, according to estimates released jointly by the U.S. Census Bureau and the Department of Housing and Urban Development. This figure represents a 0.6 percent (±14.6 percent) decrease from the revised May rate of 621,000 and a 7.4 percent (±15.2 percent) decline from the June 2023 estimate of 666,000.
The median sales price of new houses sold in June 2024 was $417,300, while the average sales price stood at $487,200.
At the end of June, the seasonally-adjusted estimate of new houses for sale was 476,000. This inventory represents a supply of 9.3 months at the current sales rate.
The next report is scheduled for release on August 23, 2024. Further details can be found on the Census Bureau's website at www.census.gov/construction/nrs/.
These statistics are derived from sample surveys and are subject to sampling variability as well as nonsampling errors such as bias and variance from response issues, nonreporting, and undercoverage. Average relative standard errors for preliminary data are included in tables accompanying the report.
Whenever statements such as “2.5 percent (±3.2%) above” appear in texts, they indicate ranges within which actual percent changes likely occurred based on a 90-percent confidence interval accounting only for sampling variability.
Preliminary figures for new home sales may be revised due to survey methodologies primarily based on building permits samples. Changes in sales price data reflect variations in house distribution by region and size as well as identical characteristic price changes.
For more detailed explanations on confidence intervals and sampling variability policies applied to these statistics, visit the Census Bureau website.
Additionally, developers can access key demographic, socio-economic, and housing statistics through the Census Bureau’s application programming interface available at www.census.gov/developers/. Updates on economic indicators can also be received via the FRED App for Apple and Android devices provided by the Federal Reserve Bank of St. Louis.
