WASHINGTON (7/27/15)--Sales of single-family houses in June dropped 6.8% from revised May figures, but are still 18.1% above June 2014 sales, reported the U.S. Department of Commerce Friday.
June sales totaled 482,000, the seasonally adjusted annual rate, compared with May’s revised downward sales totaling 517,000. The original estimate for May sales had been 546,000.In June 2014, sales totaled 408,000, said the department.
Economists polled had expected 550,000 in June sales but indicated the overall trend still signals improvement, said MarketWatch (July 24).
The actual number of homes for sale at the end of June was 215,000, seasonally adjusted and up 3.4% from May and 8.6% in June 2014, said the Commerce Department. That represents a ratio of homes for sales to total sales at a 5.4-month supply of homes at the current sales rate.
Buyers paid a median sales price of $281,000 in June, with the average sales price totaling $328,700, the department said.
Regionally, home sales were strongest in the Northeast, the only region that saw growth in June--up 28% from May and 23.1% from June 2014. Home sales in all other regions dropped from May’s sales, but their year-to-year figures reflected growth ranging from 5.7% in the Midwest to 23.7% in the South.