U.S. new home sales rise

Sales of new single-family houses in June were at a seasonally adjusted annual rate of 497,000, says a report by the U.S. Department of Commerce. This is an 8.3% increase from sales in May 2013, and a 38.1% year-over-year increase. Last year, sales were at 360,000.

Read: Signs of life in U.S. real estate

And the median sale price of new houses sold in June was $249,700; the average sale price was $295,000.

The seasonally adjusted estimate of new houses for sale at the end of June was 161,000. This represents a supply of 3.9 months at the current sales rate.

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.