Earlier this week, the
U.S. Census Department released its monthly
New Residential Home Sales Report for June showing an increase with sales rising 3.5% from May climbing 25.4% above the level seen in June 2015 but still remaining near an historically low level with 592K SAAR units.
The monthly supply declined to 4.9 months while the median selling price increased 6.5% and the average selling price increased 8.78% from the year ago level.
The following chart show the extent of sales decline to date (click for full-larger version).
