New Home Sales Tick Up in June Despite Elevated Mortgage Rates

Sales of new-construction homes bumped up a bit in June, as median sales prices slid and gave buyers an affordability boost.Contract signings for newly built homes hit a seasonally adjusted annual rate of 628,000 in June, 1.5% up from May, according to data released by the U.S. Census Bureau and Department of Housing and Urban Development Friday. That's 5.6% below where they were in June 2025, when they hit 665,000 annualized.Meanwhile, the median sales price dropped to $398,000, 3.3% below May's $412,000 median price, and 2.7% below what it was in June 2025.Just about every region showed a bump in home sales, the data show. The exception was a significant drop in the West, which saw a 22.4% drop month-over-month, and 24.6% year-over-year.The data gives a timely insight into the state of the housing market and shoppers' willingness to buy.The uptick comes after new-home sales fell 7.3% monthly in May. May's median sales price of $424,900 was up 2% from the April's $416,500, and about the same as a year ago. Meanwhile, construction activity on new single-family homes also retreated in May.The housing market has faced its share of strains amid high mortgage rates and inflationary pre...