New-home supply running at 10 months Although sales of new single-family houses in June dipped just 0.6 percent from May's level, they were down more than 33 percent from a year ago, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. Sales last month were running at a seasonally adjusted annual rate of 530,000 units, compared with 533,000 units in May and 793,000 in June 2007. At $230,900, the median sales price of new houses sold last month was 1.95 percent below the year-ago median of $235,500. The seasonally adjusted estimate of new houses for sale at the end of June was 426,000, which represents a supply of 10 months at the current sales rate. By region, sales of new homes were strongest in the South where a seasonally adjusted sales rate of 293,000 was reported in June, followed by the West at 114,000, the Midwest at 83,000, and the Northeast at 40,000. Highest foreclosure rates located in Wes...
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