US New Home Sales Pick up in June, Census Data Shows
Higher mortgage rates and affordability pressures kept June’s rebound below economists’ expectations, even as the median new-home price fell 2.7% from a year earlier.
- On Friday, the Commerce Department's Census Bureau reported new U.S. single-family home sales rose 1.6% in June to a seasonally adjusted annualized rate of 628,000 units, exceeding economists' forecast of 610,000 units.
- Higher mortgage rates continue to restrain the housing market, as Freddie Mac reported Thursday that the average 30-year fixed-rate mortgage climbed to 6.58% this week, the highest level in 11 months.
- Ten-Year Treasury note yields, the pricing benchmark for 30-year mortgages, have risen by a quarter of a percentage point this month and sit near their highest level in 18 months, while the median new home price fell 2.7% to $398,300 in June.
- Mortgage rates have climbed around 0.60 percentage points since late February as rising global oil prices and broader inflation fuel expectations of rate hikes from the Fed, which sits above its 2% target.
- The Fed will hold a policy meeting next week with rate futures markets reflecting only a one-in-three chance of a hike, though probabilities rise to nearly 100% at the September meeting.
21 Articles
21 Articles
New home sales in the U.S. rose 1.6 percent month-on-month in June, exceeding expectations.
High prices, hesitant demand weigh on June new home sales
New home sales posted a modest increase in June but were down from a year earlier, while prices also fell year over year, further suggesting that the 2026 spring selling season fell short of expectations. According to newly released U.S. Census Bureau data, single-family new home sales ticked up 1.6% between May and June. However, at a seasonally adjusted annual rate of 628,000, new home sales in June fell 5.6% compared to the year prior. New …
US new home sales pick up in June, but affordability challenges remain
Sales of new U.S. single-family homes snapped a two-month skid in June, but higher mortgage rates and affordability challenges restrained the rebound and continue to sideline potential buyers from the housing market.
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