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 the 610,000 units economists had predicted.
- Higher mortgage rates continue to restrain housing activity, 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. 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 global oil prices and broader inflation surged, while prices remain above the Fed's 2% target, fueling market expectations of rate hikes.
- The Fed will hold a policy meeting next week, with rate futures markets reflecting only a one-in-three chance of a hike at that session; 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.
Coverage Details
Bias Distribution
- 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
