New home sales in the United States rose sharply again in June, to the highest level in nearly thirteen years. That was reported by the United States Department of Commerce.
Sales increased 13.8 percent on a monthly basis, to 776,000 homes annually. Economists generally assumed an increase of 3.6 percent. In May, sales rose by a revised 19.4 percent from a previously reported 16.6 percent increase.
The US housing market is benefiting from low mortgage rates. Sales grew in all regions of the United States. New homes account for approximately 10 percent of all home purchases. The average sales price of a new home increased by 5.6 percent to more than $ 329,000 compared to a year earlier. This is partly due to a lower supply of new homes for sale.
Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by email@example.com.