Today, in the Calculated Risk Real Estate Newsletter: New Home Sales decrease to 697,000 Annual Rate in June
Brief excerpt: And on prices, from the Census Bureau: The median sales price of new houses sold in June 2023 was $415,400. The average sales price was $494,700.The following graph shows the median and average new home prices. The average price in June 2023 was $494,700 up 5% year-over-year. The median price was $415,400 down 4% year-over-year. Both the median and the average are impacted by the mix of homes sold.
The median price is down 16.4% from the peak in 2022, and the average prices is down 13.0% from the peak.You can subscribe at https://calculatedrisk.substack.com/.