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New Home Sales In Midwest Soar In June Increasing 44 Percent From Year Ago

St Louis New HomesNew home sales in the midwest region of the U.S. , like the temperature during the period, soared in June 2016 to a seasonally-adjusted, annual rate, of 85,000 new homes, an  increase of 44.1 percent from June 2015 when new homes in the midwest sold at an annual rate of 59,000 homes, according to a report just released by the US Census Bureau.

Last month, new homes were sold in the Midwest at a seasonally adjusted annual rate of 85,000 new homes, and an increase of 10.4% from the month before when new homes sold in the midwest at a rate of 77,000 homes.

On a national level, new homes sales last month were at a seasonally adjusted annual rate of 592,000 homes, an increase of 3.5% from the month before and an increase of 25.4% from a year ago.  Nationally, there is a 4.9 month supply of new homes, down slightly from 5.1 months in May and from 5.5 months a year ago.

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