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New home sales slow in June

roselawgroupreporter.com
 2021-07-27

Cover picture for the articleAs supply-side challenges continue, June recorded a decline of 6.6% for sales of newly-constructed single family homes, according to estimates from the Census Bureau and HUD. The June seasonally adjusted annual rate (676K) was the lowest since April 2020, due to builders slowing sales as a consequence of higher material costs and declining availability of labor, material and lots. Higher prices have also affected housing affordability. Nonetheless, we expect an upward revision for the June sales estimate next month due to data from other NAHB surveys suggesting solid market conditions.

roselawgroupreporter.com

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