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【World Property Journal】New Home Sales Make a Comeback in June

【World Property Journal】New Home Sales Make a Comeback in June

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According to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built, single-family homes in the U.S. increased 7 percent to a seasonally adjusted annual rate of 646,000 units in June 2019 from a downwardly revised reading in May 2019. On a year-to-date basis, new home sales for 2019 are 2.2 percent higher than the same period in 2018. 

A new home sale occurs when a sales contract is signed or a deposit is accepted. The home can be in any stage of construction: not yet started, under construction or completed. In addition to adjusting for seasonal effects, the June reading of 646,000 units is the number of homes that would sell if this pace continued for the next 12 months.
 

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