The National Association of Home Builders (NAHB) tells MHProNews data from the U. S. Census Bureau and the U. S. Department of Housing and Urban Development (HUD) reports the sale of newly-built single-family homes dropped 8.1 percent to a seasonally-adjusted annual rate (SAAR) of 405,000 in June. In addition, sales data were revised downward for May to 422,000. Kevin Kelly, chairman of NAHB, says, “The numbers are a little disappointing, but May was unusually high and some pull back isn’t completely unexpected.” All four regions saw the numbers fall: Sales fell 20 percent in the Northeast, 9.5 percent in the South, 8.2 percent in the Midwest and 1.9 percent in the West. The 197,000 inventory of new homes for sale held steady in June, representing a 5.8 month supply. ##

(Photo credit: housingwire.com)