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New Home Sales Jump to 13-Year High

Mortgage News > New Home Sales Jump to 13-Year High
Date: 07/28/2020    New Home Sales Jump to 13-Year High

Ultra low-mortgage rates and pent-up demand continued to push June sales of new U.S. homes to the highest level in 13 years, according to the Commerce Department. The annual sales pace jumped 13.8% to 776,000. That’s also an increase of 6.9% from a year ago and the strongest sales rate since July 2007. At the same time, the median new home sales price rose to $329,000, a 5.6% growth from June 2019. Supply remains tight with only a 4.7-month supply of homes available.

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