Buyers See More Choices, Lower Prices in New Home Market
By: Mortgage News Daily | Published: 2025-07-24 19:54:00 | Source: www.mortgagenewsdaily.com
The latest New Home Sales report (released today) shows a slight uptick in June after last month’s sharp drop. The seasonally‑adjusted annual sales pace rose to 627,000.
This represents a modest +0.6% gain from May’s revised 623,000, but remains ‑6.6% below the June 2024 level of 671,000.
For all practical purposes, the pave of sales has been relentlessly sideways and stable for more than 2 years–even if there’s been a bit of volatility at times.
Regional Breakdown (Sales, June 2025)
- South: +5.1% MoM (driving national gain)
- Midwest: +6.3% MoM
- Northeast: ‑27.6% MoM
- West: ‑8.4% MoM
Market Inventory & Pricing
- Homes for sale: 511,000 units (+1.2% from May; +8.5% YoY)
- Months’ supply: 9.8 months (highest since November 2022)
- Median sales…