June new-home sales drop 5.3 percent

​​​​WASHINGTON – New-home sales fell 5.3 percent nationally in June to a seasonally adjusted annual rate of 631,000 units, according to data from the U.S. Department of Housing​ and Urban Development and the U.S. Census Bureau. 

“Uncertainty caused by tariffs and the talk of trade wars are making homebuyers more cautious, and builders are taking note of this situation,” said Randy Noel, chairman of the National Association of Home Builders (NAHB). “Not only are consumers and builders concerned about the current lumber tariffs, but also the next round of proposed tariffs on a number of goods and services.”

There was a nationwide inventory of 301,000 new homes in June, a 5.7-month supply. The Real Estate Center considers a six- to 6.5-month supply a balanced market. 

The median sales price was $302,100.

“Though this is the lowest monthly annualized sales pace since October 2017, new-home sales for the first half of 2018 are up 6.9 percent on a year-to-date basis compared to last year,” said NAHB Chief Economist Robert Dietz. “This indicates solid demand for new home construction.”​​

New-home sales rose 7.7 percent in the South, the region which includes Texas. ​​