Sales of New Single-Family Houses Plummets by 6.6% as Costs Weigh on Activity

Source: Census Bureau 

Sales of new single-family houses in June fell by 6.6% to hit 676,000, a 14-month low as expensive building materials curtailed construction activity.

SPDR Homebuilders ETF is down -0.19%.

• Housing sales in June were below May’s rate of 724,000 and down 19.4% the estimate for June 2020.
• Median sales price of new houses for the month of June was $361,800, with an average sales price of $428,700.
• At the end of June, new houses listed for sale were 353,000, a supply of 6.3 months at the prevailing sales rate.