Home | Newsletter | Advertise

New Home Sales Dip Compared to May, But Up Significantly Year-Over-Year

  • July 26th 2023

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

New home sales dipped in June compared to May, but are still up notably compared to last summer. 

There were 697,000 new home sales in the U.S. in June, according to the U.S. Census Bureau, down about 3% when compared to the previous month, but up nearly 24%, year-over-year.

From Zillow economist Nicole Bachaud on the new home sale numbers:

"With inventory of existing homes dwindling, many home shoppers are turning up empty handed. Those buyers who turn to the new construction market are seeing more available options to snatch up, leading to strong new home sales compared to a year ago. And with the majority of builders offering incentives like rate buydowns, new construction is an attractive offer for buyers who are seeking affordability. The new construction market will continue to play a vital role in unlocking buyers who are left with few other options as builders continue to churn out much needed inventory into this market."

See other articles related to: new home sales

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/new_home_sales_dip_compared_to_may_but_up_significantly_year-over-year/21302.

Pipeline: New Condos & Apartments Coming to the DC Area

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse