Single-Family Home Sales Up 11% In June

S. Department of Commerce (DOC) has reported an 11% increase in the sales of single-family homes in June – the largest single-month rise in eight years and the third consecutive month of rising home sales. The DOC report found that June's sales were recorded at a seasonally adjusted annual rate of 384,000, compared to May's rate of 346,000. Three regions reported sales increases for this period: a 29.2% rise in the Northeast, a 43.1% increase in the Midwest and a 22.6% spike in the West. Sales in the South fell 5.3%. However, the department also recorded that June's new-home sales were 21.3% lower when compared to the June 2008 figure. Furthermore, the median price for new homes was $206,200 in June, down from May's figure of $219,000 and 12% below the June 2008 figure of $234,300. SOURCE: U.S. Department of Com


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